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12AB and cancellation
A Trust obtained 12AB. The activities are ceased and objects can not be achieved. How to apply or surrender or close the Trust and cancel the 12AB and 80G.
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On cancellation of such trusts you are required to pay tax on the accreted income 115TD @ 34.944% and same has to be paid within 14 days irrespective of whether you have income tax payable or not. as the AO will ask for the details of the same
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