Taxation of trust

This query is : Resolved

Bijesh.K (Querist)
Follow

25 November 2016 A trust not registered as per income tax Act has gross receipts of Rs. 325,000.00 and had utilised and amount equal to 3,00,000.00. So they have a surplus of Rs. 25000.00

Can they claim the expenses of 3 lakhs as "applied for charitable purpose" as per Sec 11(1) even if they are not registered?

Will there be any surcharge on the income (Rs. 25000.00/ 325,000.00) while calculating total tax liability?

Karthik.V.Kulkarni

Karthik.V.Kulkarni (Expert)
Follow

25 November 2016 Hi Bijesh,

If the trust is not registered under income tax then it cannot claim benefit of Sec 11.

Warm Regards
Karthik V Kulkarni,ACA

Message likes : 1 times