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Trust not registered u/s 12a, 12aa.
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.
Replies (3)
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
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.
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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