Exemption related to trust

If trust is not registered u/s 12AA, then you cannot claim exemption u/s 11. However if you applied for the same then you can claim the exemption from the year in which  you applied for.

Then how can we claim expenditure  incurred for the maintanence of the trust? Can we claim it u/s 57? How to show it under ITR-7?

The trust not registered under the income tax act would be taxable as an AOP and the total income is chargeable to tax at the rates applicable to an individual or at the maximum marginal rate of tax depending upon the fact that whether shares are determinate or not. The return would be filed in ITR - 5.

Originally posted by : Jaspreet
	The trust not registered under the income tax act would be taxable as an AOP and the total income is chargeable to tax at the rates applicable to an individual or at the maximum marginal rate of tax depending upon the fact that whether shares are determinate or not. The return would be filed in ITR - 5.

sir i have following queries
1. public trust has been created on sep 2016 , should we have to wait to close the f/y 2016-17 to apply for 12A and 80G or it can be apply before closing of f/y 2016-17
2. can we apply 12a and 80g simuntanously?
3 is it necessary to receive donation and their usage before applyng for 80g and 12a?

regards