Donations to temple trust from abroad

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 August 2011 If huge Donations are received by a Temple trust from abroad what will be the taxability of such income in the hands of trust and whether payer can claim deduction?

CA Hardik Bunha

CA Hardik Bunha (Expert)
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31 August 2011 yes donation received by trust will be taxable. you have received permission from ministry of corporate affairs. and you have to file repport FC3.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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14 November 2011 For a trust an donation is income to the extent it is not utilised for the social/charitable/educational purposes as specified under 12AA certificate.

Most important condition for Indian Trust is to have PRIOR PERMISSION/ PERMANENT REGISTRATION under Foreign Contribution Regulation Act 2010(FCRA)before receiving any FOREIGN DONATION .

Regarding payer's deduction shall depend on registration u/s 80G.

Anuj
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