On what basis will the rental income earned by a charitable trust from let out of a spare flat/property be taxable , under which section will such rental income be charged to tax for the Trust ?
Will charging section 24 (i.e. taxation of house property) apply ? or will it be considered in the total income earned by the trust from which the ad hoc exemption of 15 is be reduced ?
(Renting is not considered as an object of the trust . It has let simply let out a spare flat)
Menu
Rent income earned by a trust from let out of property
Replies (1)
section 11 & 12 will be applied in case of charitable trusts
Recent Topic
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
Related Topics
CAclubindia
