A CHARITABLE TRUST WANTS TO START MANUFACTURING ACTIVITIES (MANUFACTURING OF AYURVEDIC MEDICINES LIKE IN PATANJALI YOGPEETH). WHETHER TRUST CAN CLAIM EXEMPTION U/S 12A AND WHETHER IT CAN REGISTER U/S 80G??????
PLEASE PROVIDE THE PROVISIONS APPLIED ON PATANJALI YOGPEETH TRUST WHICH CONDUCT MANUFACTURING OF AYURVEDIC MEDICINES ACTIVITY.
Dear Sandeep,
If the main object of the trust is any of the below, then it will remain exempted form tax and can register under 12AA and 80G:
relief of the poor
Education
medical relief
preservation of environment (including watersheds, forests & wildlife)
Preservation of monuments/places/objects of artistic/historic interest
However, if the purpose of trust is advancement of any other object of general public utility then it would lose exemption if the turnover exceeds Rs 25 lakhs
Rohit KC Jain & Co
New Delhi
CA Inter
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