TRUST QUERY INCOME APPLIED
This query is : Resolved
27 August 2025
Public Charitable TRUST registered u/s12AA is allowed to accumulate surplus amount not exceeding 15%. If this amount by mistake is not claimed in the return even tough amount of income applied, surplus amount set aside u/s 11(2) etc. is claimed. Then A.O. is supposed to allowe this 15% amount atomatically while completing the assessment & determining the assessable income
07 September 2025
Yes. If the trust applied its income accordingly and claimed any surplus set aside under section 11(2), the AO should suo moto grant the 15% accumulation during assessment, even if omitted in the computation sheet or claim.
21 September 2025
Good luck....
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