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Tax for charitable trust

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 February 2015 A Charitable Trust Invested Large Amount of fund in Mutual Funds (Templeton India equity income fund & UTI Wealth Builder Fund.) I ve Claimed it as exempt income in ITR but it is Taxed in Intimation received from ITD.


Whether it is exempt or taxable for trust & if yes Under which section
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 February 2015 it is taxable income and itd is correct
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Querist : Anonymous

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Querist : Anonymous (Querist)
24 February 2015 is it taxable even if it was dividend from mutual fund?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 February 2015 it is exempted for charitable trust only if the dividend paying company has already paid dividend distribution tax
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Rupesh Jain

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Rupesh Jain (Expert)
24 February 2015 it dividend tax already paid by the distribiting co. then no tax.

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