Income tax on donations of trust

This query is : Resolved

CA RaviKumar (Querist)
Follow

08 December 2014 Hi,

One of my client ( A Trust) reg U/s 12AA has received 6 lakhs as donations and utilised only 80000 out of it in the previous year. how to claim exemption of remaining 520000 also. Trust usually provides Education facilities to needy.

Thanking you

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

08 December 2014 The general provision is that if the 85% could not be applied by the end of the previous year, then it can still be applied in the next previous year, but BEFORE the due date for filing the tax returns. If it is not likely that this will be possible, then the specific declaration to the AO has to be filed.

Message likes : 1 times

CA RaviKumar

CA RaviKumar (Querist)
Follow

08 December 2014 Any Specific format for declaration to AO.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

08 December 2014 Form 10 of the IT Rules,1962 should be used.

Message likes : 1 times

CA RaviKumar

CA RaviKumar (Querist)
Follow

10 December 2014 can U just mail me the form in which declaration should be submitted to ITO or any format ..my mail id is ca.ravikumarreddy@gmail.com

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

10 December 2014 Please visit the link.

https://www.incometaxindiapr.gov.in/incometaxindiacr/contents/forms2010/10.pdf

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now