Balance in corpus fund what it means

The trust received 139 (9) notice ask to fill schedule J Balance in corpus fund and non corpus fund.

The trust has 12,00,000 as General fund in which 10,00,000 represent corpus fund and  2,00,000 represent non corpus fund of 15% accumulation after spending 85%. Total 12,00,000 is in form of building furniture and some amount in SB a/c.There is no investment u/s 11 (5) since there is no balance  fund to invest.

Now please any one tell what to show under Balance in corpus fund and non corpusfund ? Is it zero for both or 10 lakhs and 2 Lakhs respectively

Replies (3)

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?

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
26 September 2026
Chartared Accountant

pushpganga ventures

Pune

CA

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details