Ravi SADhiyan (Practice) (4510 Points)
20 April 2020During the P.Y. 2019-20, HelpAid Charitable Trust registered u/s 12AA received donation of Rs. 80 Lakhs, out of which Rs. 10 Lakhs were corpus donation and Rs. 20 Lakhs were anonymous donation.
The trust applied Rs. 40 Lakhs towards its objective during the P.Y. 2019-20. The tax Liability of the trust for A.Y. 2020-21 is
(a) 6,24,000/-
(b) 5,92,800/-
(c) 5,43,400/-
(d) 5,97,220/-
Monika
(Articled Assistant)
(15 Points)
Replied 01 May 2020
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 02 May 2020
| Originally posted by : Monika | ||
 |
My answer is : 530920 (tax 510500 + cess 20420)out of total tax of 510500 ...tax of 30500 is @ normal tax rate and tax of 480000 is @ 30% on anonymous donation of 16 lakh. |  |
Kindly elaborate your answer related to tax part as you calculated i.e. Rs. 30,500/-
As per Book Answer is Option C i.e. Rs. 543,400/-
Kindly explain me so that i understand concept related to THIS SPECIFIC PROBLEM
Thanks With Regards
Ravi SADhiyan
Monika
(Articled Assistant)
(15 Points)
Replied 02 May 2020
CAclubindia
