22 February 2009
A trust has been formed and registered but the exemption u/s. 12A has not been granted, now i would like to know that how the trust will be assessed now, as an AOP or individual? The trustees have given the corpus donation to trust, is it taxable? What tax planning can be made in this case?
22 February 2009
A trust which has not been granted exemption under section 12A will be treated as AOP and will be assessed accrodingly. You have tax plan on the basis of AOP.
CAclubindia
