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Charitable trust taxability

Tax queries 377 views 2 replies

How is the taxability determined for a trust where income in only from voluntary contributions, subscripttions and donation. There is no property held under the trust. The income is applied towards charitable purpose.

Will the 85% application of income apply here since there is no income from property held.

Something like a round table trust for example

Replies (2)
yes voluntary contribution, donation & others will be taxable subject to exemption of sec 11 & 12 of IT act. donation to corpus not taxable. Also provisions relating to 85%, applicable.

Is Form 9A required to file in case where 85% income is not applied? What is the significance of 'Income from property held under trust" in Form 9 A


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