Taxability of trust not registered under 12aa

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2018 we have a unregistered charitable trust. (NOT REGISTERED UNDER 12AA). main purpose is to fund education of children using donations received. kindly help us with the following queries :

1. which ITR should be filed ITR-5 or ITR-7 ?

2. is CORPUS Donation taxable ?

3. since an unregistered trust is treated as AOP , can the donations received and spent be treated as "PROFIT OR GAINS FROM BUSINESS OR PROFESSION" head ?

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 June 2018 you will have to file ITR-5. Donations will be treated as income regardless of the nature of the donation. it would be best to treat them as income from other source as there is no specific intent of doing business. Subsequently apply for 12A registration.

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2018 why not ITR-7 as it is specifically meant for trusts ?

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