Trust income exemption

This query is : Resolved

mohanlal (Querist)
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08 November 2011 a public trust earn income on FD Rs 24 lac on Grant received from C.Govt . the business not yet started . tell me the tax treatment of the same.
1) if taxable under what Head.
2) exemption under which section And conditions.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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12 November 2011 Depends under which section the trust is registered and how much amount is spent on public welfare.

Please confirm whether Trust is registered under sec 12AA.

Anuj
+91-9810106211
femaquery@gmail.com

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mohanlal

mohanlal (Querist)
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15 November 2011 thanks sir , trust is registered u/s 12AA. and all amount kept in schedule bank as fd. the trust not yet started the business.

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