Trust income exemption
This query is : Resolved
08 November 2011
a public trust earn income on FD Rs 24 lac on Grant received from C.Govt . the business not yet started . tell me the tax treatment of the same.
1) if taxable under what Head.
2) exemption under which section And conditions.
1) if taxable under what Head.
2) exemption under which section And conditions.
CA. Anuj Gupta
(Expert)
12 November 2011
Depends under which section the trust is registered and how much amount is spent on public welfare.
Please confirm whether Trust is registered under sec 12AA.
Anuj
+91-9810106211
femaquery@gmail.com
Please confirm whether Trust is registered under sec 12AA.
Anuj
+91-9810106211
femaquery@gmail.com
Message likes :
1 times
15 November 2011
thanks sir , trust is registered u/s 12AA. and all amount kept in schedule bank as fd. the trust not yet started the business.
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