TRUST very urgent, PLEASE ANSWER
This query is : Resolved
21 January 2011
I ASK AGAIN THIS QUERY WITH THE ADDITIONAL FACTS.
i have CREATED A TRUST 7 YEAR BACK AND SINCE INCEPTION Trust has RECEIVED CORPUS DONATION FROM CHATITABLE TRUST REGISTRED U/S 12A APPR Rs. 18 LACS TILL THE F. Y. 2009.10. and the TRust Invested This Donation Received in to FDR what will postion . AND Trust APPLIED FOR REGISTRATION U/S 12A ON AUGUST 2010, NOW A.O WANT TO TAXES Rs. 18 LACS AS INCOME. PLEASE TELL ME WHAT IS THE TRAETEMENT Of THIS IN DETAILED BY WHICH MY CASE SOLVED
i have CREATED A TRUST 7 YEAR BACK AND SINCE INCEPTION Trust has RECEIVED CORPUS DONATION FROM CHATITABLE TRUST REGISTRED U/S 12A APPR Rs. 18 LACS TILL THE F. Y. 2009.10. and the TRust Invested This Donation Received in to FDR what will postion . AND Trust APPLIED FOR REGISTRATION U/S 12A ON AUGUST 2010, NOW A.O WANT TO TAXES Rs. 18 LACS AS INCOME. PLEASE TELL ME WHAT IS THE TRAETEMENT Of THIS IN DETAILED BY WHICH MY CASE SOLVED
22 January 2011
Sir,Your language is not clear.But as per the Act you have to spend 85% of the trust's income.
If the balance income more than Rs.160000 it will taxed as an AOP ie idividual slab rates.
If the balance income more than Rs.160000 it will taxed as an AOP ie idividual slab rates.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
