Assessment of trust

1)A trust has applied for registration in Oct 2016 and till now the registration has not been granted. Can it be presumed that the registration has been granted as on April 2017 as 6 months will be expired from the date of registration?

2)The same trust has collected anonymous donations in the FY 2015-16 in cash below Rs.20,000/- from various persons. Should the same be treated as income and pay tax on the same (as registration was applied only in Oct 2016)

3) Can the anonymous donation be treated as Corpus Fund?

Replies (1)

if u have 80 g certificate then only donation received by u is subject to deduction 

and u have received funds so better to filyed balance sheet 

 Surplus funds on 31 march carried over to Balance Sheet corpus fund 
Trust Funds or Corpus  :-
   Balance as per last Balance Sheet
   Add : Trust Fund contribution during 
             the year

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details