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Roshni (Student CA Final )     24 January 2020

Trust - Donation Taxability

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??

 3 Replies

CA Kiran Sutrave

CA Kiran Sutrave (CA)     25 January 2020

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.
1 Like

Roshni (Student CA Final )     26 January 2020

Can you send me the link of this case law
Kapadia Pravin

Kapadia Pravin   26 January 2020

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
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