Trust
This query is : Resolved
11 May 2015
How much a Charitable Trust can spend for religious activity?
30% deduction u/s 24 a is whether available for calculation of rental income of a Trust?
30% deduction u/s 24 a is whether available for calculation of rental income of a Trust?
11 May 2015
Income derived from property held under trust or of an institution (‘trust’) wholly for charitable/religious purpose is exempt, if 85% of the income is spent on the objects of the trust, during the year.
If it is only a charitable trust it can't spend on religious activities. Only religious trusts can spend on religious activities.
30% Deduction is not available for charitable trusts.
If it is only a charitable trust it can't spend on religious activities. Only religious trusts can spend on religious activities.
30% Deduction is not available for charitable trusts.
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