Trust received Donation Income.
Donation received is in invested in purchasing Property.
so the Property purchased is given on Rent. Whether the Rent Received is subject to tax and under which section??
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Trust - Donation Taxability
Replies (3)
According to me, if the rental income is earned and this income is used for charitable purpose then it is exempted. There is a case law. Shri Vile Parle Kelavani Mandal (SVKM), an educational trust that runs Narsee Monjee Institute of Management Studies.
Can you send me the link of this case law
Is it registered trust under Income Tax Act ?
is donation received towards a specific direction being building corpus
is the trust audited under State Public/ Charitable Trust Act
All and more factors will decide income taxability
is donation received towards a specific direction being building corpus
is the trust audited under State Public/ Charitable Trust Act
All and more factors will decide income taxability
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