Dear Colleagues,
Can a Charitable Trust Registered u/s 12 AA of the I T act be converted into co op society? If yes, how?
Further, any person making payment to the trust so registered is not to deduct TDS from payment to trust.. is it right?
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conversion of trust
Replies (1)
A charitable trust claiming exemption u/s 11 can be converted into a co-operative society thereby claiming deduction u/s 80P. This is what I understand. Tell me if I am correct.
But if that is correct. I am afraid why anyone would like to do it. Pls clarify.
Your second query : Payment made to charitable trust is subjected to TDS. But charitable trust can apply to AO u/s 197 for no deduction of tax or lower deduction of tax. AO shall issue a certificate.
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