Filling up form itr-7

Lokesh Dugar (Articled Assistant) (39 Points)

09 January 2013  

The client is a registered society working for religious & charitable purposes. We have also made an application u/s 12AA, proceedings of which are ongoing.

The querry is that, while filling up Form ITR-7, under which head should i classify the Surlpus appearing in the Income & Expenditure A/c of the society.

The generic knowledge about Income Tax Returns of societies & trusts says to recognize the income as "income from property held under trust". But i am unable to find that under which Income head should it be displayed ?


Kindly answer the querry alongwith relevent citation of the Act or Case Law.