Assessment of trust

Tara Khandelwal (Student CA Final ) (298 Points)

13 March 2017  

1)A trust has applied for registration in Oct 2016 and till now the registration has not been granted. Can it be presumed that the registration has been granted as on April 2017 as 6 months will be expired from the date of registration?

2)The same trust has collected anonymous donations in the FY 2015-16 in cash below Rs.20,000/- from various persons. Should the same be treated as income and pay tax on the same (as registration was applied only in Oct 2016)

3) Can the anonymous donation be treated as Corpus Fund?