Please Suggest me,
If a trust has no registrations under any sections(Sec 11 or 12) and it has a total income of Rs 180000(Less than the basic exemption limit) ,What are the consequences i.e what type of return it has to be filed and compute its tax
Please Suggest me,
If a trust has no registrations under any sections(Sec 11 or 12) and it has a total income of Rs 180000(Less than the basic exemption limit) ,What are the consequences i.e what type of return it has to be filed and compute its tax
Dear Sai Ram,
According to section 12A of the income tax act, it encats that no provision of the seciton 12 and 11, regarding excemption of income, will not be applicable to trust unless an application of registration is made to cit/dit.
so the assesment will be very normal all the income should be libale to tax and hence even voluantry donation will also be liable to tax.
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