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Taxation of trust

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 July 2018 A Educational trust registered u/s 12A has gross fee receipts of RS 50 lakhs. Its net income as per Income and Expenditure is 10 lakhs.

My question is 85% utilisation has to be calcualted on 50 lakhs( gross receipts) or Rs 10 lakhs ( net income). Section says net income?

Please guide
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
14 July 2018 85% is to be calculated on gross receipts ie., on Rs. 50 lakhs.

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