Charitable trust

P.MADHIVADHANAN (TAX PRACTITIONER) (103 Points)

29 August 2016

a charitable trust can do business. if it carry on business what are the consequences with regard to section 11 & 80G of income tax act

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2 Replies

sasi k kanth (accounts executive) (90 Points)
Replied 30 August 2016

if business is incidental to objects of trusts and separate books are maintained exemption is available. or else no exemption for business income

Dr Karnav Shah (Founder Social Entrepreneur & Changemaker) (27 Points)
Replied 31 August 2016

as long as you invest your business income towards the objective laid out in trust deed, you can get exemption. (I am a founder of One NGO)

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