10 December 2019
Namaste all, Trust not yet registered u/s 12A/12AA, Required to file ITR 7 for A.Y2019-20. Trust activity is to provide fine arts education , collects fees from students/ learners for different fine arts classess. for A.Y 2019-20 TRUST has receipts other than Donations and spent this amount for providing arts education. 1) Income other than Donation referred in Sec. 10, 11 & 12 (Sch. AI of ITR) here whether gross receipt or Net income to be declared 2) Application of income on Revenue account /capital account (For Sch. ER of ITR) please explain 3) source of funds -Income derived from the property/income earned during PY please explain
CAclubindia
