Trust donations

Tax planning 152 views 6 replies

if a religious trust received a land as donation in year 2014. do donation of immovable property is considered as income of trust as it is a capital receipt? return is not filed as other donations revenue in nature are below the limit .land is used as place for religious teachingsi.e application for charitable/religious purposes. what can we do as return is not filed ? clarify do donation of immovable property form part of income

Replies (6)
is trust register as per 12a

no not registered as per 12a

then whatever receiable become your income and tax will be charge as per

normal return 30% 

12 A is must for claiming exemption under section 11 and 12.

EVEN IF RECEIVABLES ARE BELOW TAXABLE LIMIT?

IF 12A REGISTRATIONS IS THERE DO DONATION OF IMMOVABLE PROPERTY WILL BE TAXABLE ??/


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