Balance in corpus fund what it means

Dear Sir

I too has the same question sent to members. It was replied :

corpus fund represents the total of corpus donations received.

Non-corpus fund represents the balance of accumulations beyond 15%, i.e. if in a year, the trust is unable to spend 85% of income derived from property held under trust, this should be invested in the modes specified u/s.11(5).

However, one of our client, who has received the notice u/s.139(9), has filled up the particulars in scheduleJ

the assessing officer has again sent back the same notice and asking them to fill up the schedule J.

We are left without any information as to what is the intention of the officer.

Regards

K.Nandini

Thnaks for the reply

in Schedule-J of ITR -7

The amount has to file under

i- Balance in the corpus fund

ii-Balance in the non corpus fund

In my balance sheet of Trust the amount are as follows:

Members Capital Fund Rs.5 Lakh

Excess of Income over Expenditure Rs.1 Lakh

What amount should come under Corpus Fund and Non Corpus Fund?