Can a Jain Charitable Trust claim an exemption of 15% u/s 11(1) on earmarked fund received???
Can a Jain Charitable Trust claim an exemption of 15% u/s 11(1) on earmarked fund received???
Dear Abhay,
There is no impediment for a Jain Trust to club to claim exemption U/s 11.
The only issue would be whether it is registered U/s 12 of the Act.
regards,
abhiram
Dear Abhay,
In case of earmarked funds received towards the corpus the entire amount would be exempt.
regards,
abhiram
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