Trust form 10b
This query is : Resolved
21 March 2016
Dear All,
I have a doubt on Form 10B for Trust.
What do you mean by Gross Receipts before claiming exemption u/s. 11 or 12?
In our case our only source of Receipt is Donation (which are approx 10,35,000) and against that Establishment Expenses are Rs.4,50,000 and Expenses on objects of Trust are Rs.6,00,000. In short total Deficit of Rs.15,000.
In this case whether 10B is applicable????
I have a doubt on Form 10B for Trust.
What do you mean by Gross Receipts before claiming exemption u/s. 11 or 12?
In our case our only source of Receipt is Donation (which are approx 10,35,000) and against that Establishment Expenses are Rs.4,50,000 and Expenses on objects of Trust are Rs.6,00,000. In short total Deficit of Rs.15,000.
In this case whether 10B is applicable????
21 March 2016
Here ,gross receipts is 10,35,000.
10B is applicable because income before claiming exemption u/s 11 and 12 is 5,85,000 [10,35,000 minus 4,50,000].
10B is applicable because income before claiming exemption u/s 11 and 12 is 5,85,000 [10,35,000 minus 4,50,000].
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