03 February 2018
Trust is not registered under 12A section Status of trust is AOP(Trust) Income of trust is choultry income (main object) & income from house property. which section is applicable for filing the return. Whether Security deposit received from house property is to be treated as income or not, If it is income under which section it is taxable. As the trust is not registered under 12A. how can i claim the construction cost of property under application of funds.
03 February 2018
1 you have to file ITR 5 as AOP and income exceed 2.50 lacs tax payable. Income taxable under house property. 2 As trust is not registered under 12a construction cost can't be claimed as application. 3 Security deposit will not be treated as income.
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