I have a trust (not registered) and we have received specific fund / donation for land purchase and Hall purchase for education purpose, My questions is, the donation received should be capitalised or It will be treated as income.
would i have to pay tax on the specific donation received.
what is the taxability in unregulated trust. Kindly help me
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Unregistered Trust received specific fund for Land purchase
Replies (6)
Whther trust has PAN Card ????
Obviously trust has got a pan card. Sec 12AA OF THE TRUST ACT.
Yes trust has a PAN card
Let the queries reply, he has better knowledge about PAN.
Donation received will be treated as Income and it will be taxable @ 30% + surcharge + HEC
Donation is corpus in nature and no tax liability arises in corpus donation.
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