Income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 May 2013
My query: An Assessess who is an AOP running a school. Can the assessee accept voluntary donations from students for construction of School building and other infrastructure. What is the nature of impact in income tax.
22 May 2013
if it is registered as a trust .the donation is tax free.
Donations collected by schools will be tax-free if it is used for advancement of education. "If the income earned by a trust is utilized for charitable purposes, it cannot be held that the trust is carrying out business,"
Donations collected by schools will be tax-free if it is used for advancement of education. "If the income earned by a trust is utilized for charitable purposes, it cannot be held that the trust is carrying out business,"
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