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Maximum cash allowed under religious trust

Tax queries 689 views 2 replies

We are a religious charitable trust based out of karnataka. We are registered under 12A. What is the maximimum amount allowed to be taken in cash? Is it INR 9000

 

 

Replies (2)

As per the provisions of income tax act, to claim 80G deduction a donor has to pay donation in specified mode only but upto rs 2000.00 can be paid through cash.

For receiving donation in cash a trust can receive upto Rs.199999.00 as per the provision of 269ST.

There is no such threshold limit of Rs 9000.00

But as per the provision of 40A(3) a person who is liable to audit under income tax act can not pay above 10000.00. it will be disallowed and added back. For trust it will not be treated as an application.

 

Maximum cash allowed under reigious trust.

Sec 269ST IS APPLIED.


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