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Charitable Trust

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 January 2011 What are the consequences if income from property held for charitable purposes of a trust less than expenses made in relation to trust after setting apart 15% for future. In this case is the trust liable to pay tax if it earns income of Rs. 30000/- from sale of long term investment.
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
10 January 2011 Other Options are Also Available. Like Accumulation of Income For 5 Years.and Applied Till Filling of Return.

Otherwise Pay Tax

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