17 October 2023
We have a charitable trust having 80G. The compulsion is to spend 85% of income for the purposes of the trust. However we have spent only 75% of the income towards the purposes of trust. On balance 10% what is the tax applicable ? Can we form a charitable trust without registering with charity commissioner (We do not want 80G facility) ?
18 October 2023
For the balance 25% unspent slab rate of tax applicable. Upto 2.50 lacs no tax payable. Only if you spent 85% income balance 15% is exempt.
It is compulsory for every public trust to register with the charity Commissioner so as to ensure proper administration and Management.
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