uma shankar khatri (proprietor) (132 Points)
30 November 2017A charitable trust , NOT having exemption certificate from Income Tax . IF a HUF gives a gift to this Trust , Will this gift be treated as income of this Trust ? If this gift is beloe Rs. 2,50,000/- even then will it attract Tax OR it will be exempted ? Can a HUF give gift to charitable Trust ?
Luvish Jain
(Tax Consultant)
(507 Points)
Replied 02 December 2017
considering 250000 shall be the total income of the trust comprises of this voluntary donation (gift) it wont be taxable but if it ll exceed than total income than it ll be taxable.
CAclubindia
