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Trust not registered u/s 12a, 12aa.

06 April 2016

Dear experts, Please guide me that we have Trust and we have gross receipts as Voluntary Contribution from public and School Fees which are less than 10 Lacs but our Trust isn't registered u/s 12A and 12AA. Can we still claim Tax Exemption in Income Tax? Please solve this query. Thanks in advance.

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3 Replies

Chinnu Raj (CA Final Student B.Com) (1067 Points)
Replied 06 April 2016

You can claim exemption only U/S 10 of IT Act,1961, In order to claim exemption U/S 11&12 you are required to get registration U/S 12A

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Md. Abdul Kalam (CEO) (551 Points)
Replied 07 April 2016

In ITR-7 do we need to fill every single voluntary cotribution separately or we just make a single entry of all the gross receipts of voluntary contributions all together?

Please answer of this query as well

Thanks in advance.

Chinnu Raj (CA Final Student B.Com) (1067 Points)
Replied 07 April 2016

No need to mention each and every transaction separately in ITR return. However you are required to maintain the vouchers and other documents related to each contribution.

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