Charitable trust


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Querist : Anonymous

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Querist : Anonymous (Querist)
08 February 2013 Can Charitable trust give the bonus(in cash < Rs.20000) to its employee?

09 February 2013 Yes .So far as it is reasonable.

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 February 2013 thanx..sir..


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Querist : Anonymous

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Querist : Anonymous (Querist)
09 February 2013 suppose one new charitable trust is registered in F.Y.2011-12 & it has incurred the some expenses < Rs.50000 for day to day exps.in society office by taking advance from trustee & I&E A/c shows deficit.
Q.1)Can society register for 12A now?
Q.2)Can trustee get their advance refund in future if society has surplus?
Q.3)Is it compulsory to get audit books of A/Cs & filing return if society want to carry forward the deficit & set off in future?
Q.4) If yes, then what is the last date for return filing?

09 February 2013 1.Yes
2.Yes
3.Yes
4.30th sep each FY

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 February 2013 Thanx Sir.....
I am satisfied with ur answers!!!!!
Sir,
Q.(1)-In which mode return should be submitted, online or manual?
Q.(2)-Is it compulsory to submit the audit report with the 12A reg. application form in Income Tax Office in following cases?
Case (1)-Society has deficit.
Case (2)-Society has surplus.
Case (3)-Society has no surplus/Deficit but want to reg.for 12A in I.T. Dept.

10 February 2013 in case of trust ITR 7 to be filed, which is Offline form, and you are required to submit Audit Report.

Further, Trustees can only take advances if they had given it through Unsecured Loan.


11 February 2013 If the society has no taxable income no need to file return of income.however the annual accounts duly certified by a CA should be submitted to the Directorate of income tax exemptions Income tax


11 February 2013 Further Reply to the issue raised by CA Chandeasekaran, if the income of trust is more then 1.80 lakh before exemption under section 11 & 12, they only they are not bound to file return, else they have to file return U/s 139(4A).

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 February 2013 Sir,
as u said that the income of society above mentioned is less than taxable income i.e. deficit of < Rs. 50000/- so that the society should be submitted its annual A/cs duly certified by CA to the Directorate of Income tax Exemptions I.T., am i right?
Then tell me,
1)Procedure for the same.
2)Required documents.
3)Up to which date from the end of F.Y., the society can submit the same.
4)Is it mandatory to submit the form 10B with audit report? Because society does not have 12A registration.

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 February 2013 Sir,
as u said that the income of society above mentioned is less than taxable income i.e. deficit of < Rs. 50000/- so that the society should be submitted its annual A/cs duly certified by CA to the Directorate of Income tax Exemptions I.T., am i right?
Then tell me,
1)Procedure for the same.
2)Required documents.
3)Up to which date from the end of F.Y., the society can submit the same.
4)Is it mandatory to submit the form 10B with audit report? Because society does not have 12A registration.

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 February 2013 CA CHANDRASEKARAN S.R. Sir,
I m waiting for ur reply about my query posted on 12 feb. 2013.
Plz reply.......




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