what is the procedure if I not want to take benefit of exemption?
can i do the same?
Or any section prohibits me for that?
Menu
Exemption under section 11
Replies (1)
A trust is not mandated to use the Section 11 exemption; it is a voluntary claim. To opt out, a trust simply chooses not to invoke these sections when filing its annual Income Tax Return. As a result, the income becomes fully taxable based on the trust's legal status. It is strongly recommended to perform a tax impact assessment with a professional before deciding to forgo this benefit.
Recent Topics :
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
Related Topics :
CAclubindia
