trust registration
This query is : Resolved
11 April 2009
Sir, I would like to know that when the trust is registered after specified time limit i.e. 1year how the income before registration will be taxed. whether gross income will be taxed or deduction of expenditure will be allowed. further, the process of condonation for delay in application whether applicable or not and how it is to done.
11 April 2009
Income before registration will be taxed in the status of AOP. Only net income will be taxed. Provision of condonation is withdrawn.
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