Form 10b

I would like to clarify what amount is to be given while furnishing Form 10B for chartiable trust in- Point 1 of annexure 1 and Point 3 of annexure 1. Whether it would be Surplus amount or Total Income or Total Expense? *Point 1- Amount of income of previous year applied to charitable or religious purposes in India during the year Point 3- Amount of Income:- Accumulated or set apart/ finally set apart for application to charitable on religious purposes, to the extent it does not exceed 25 per cent of the income derived from property held under Trust. Thank You
Replies (3)

In point 1 total amount of expenditure incurred after adjusting accumulation is to be entered

 

for point 3 you have to enter

if expenditure is greature than 100% of income then    0

if expenditure is less than 100% of income but greater than 85% of income

     then   income * 85% or 100% of income of expenditure which ever is lower is to be considered

 

In point 1 total amount of expenditure incurred after adjusting accumulation is to be entered

 

for point 3 you have to enter

if expenditure is greature than 100% of income then    0

if expenditure is less than 100% of income but greater than 85% of income

     then   income * 85% or 100% of income of expenditure which ever is lower is to be considered

 

We need to consider only cash expenditure or both accrued exp and cash exp??

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