dear sir,
I received intimation ( incorrect claim u/c 143 (1) (a) (ii) )
my client have a charitable trust help to poor people. donation received ay 2017-18 RS. 380473/- they paid RS. 658535/-
donation paid RS 380473+ ay 2016-17 income over expenditure amount 263705+ coupus fund 14359
as per intimation variance rs .. 658535 please guide solve the intimation
thanks
R.Suvitha
9 Replies
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 02 October 2018
Which section they have refered in the intimation ?
Suvitha
(Accountant)
(385 Points)
Replied 02 October 2018
intimation ( incorrect claim u/c 143 (1) (a) (ii)
Suvitha
(Accountant)
(385 Points)
Replied 02 October 2018
Subject: Communication from CPC for the PAN AAETA1125C and AY 2017-18.
Incorrect Claim u/s 143(1)(a)(ii
Error Descripttion
As per Section-12A(1)(b) of Income tax
Act read with 1st Proviso to Rule 12(2) of
the Income Tax Rules, where the total
income of the trust or institution without
giving effect to the provisions of section
11 and section 12 exceeds the maximum
amount which is not chargeable to income
tax, the audit report in Form-10B has to be
E-filed along with the return of income.
Since assessee has not E-filed the Audit
Report in Form 10B along with or before
filing of the Return of income, the
exemption u/s-11 .i.e. sr.no 1 & Sl. No. 4i
to 4viii in Schedule Part B-TI is not
allowed.
Incorrect Claim u/s 143(1)(a)(ii
Error Descripttion
As per Section-12A(1)(b) of Income tax
Act read with 1st Proviso to Rule 12(2) of
the Income Tax Rules, where the total
income of the trust or institution without
giving effect to the provisions of section
11 and section 12 exceeds the maximum
amount which is not chargeable to income
tax, the audit report in Form-10B has to be
E-filed along with the return of income.
Since assessee has not E-filed the Audit
Report in Form 10B along with or before
filing of the Return of income, the
exemption u/s-11 .i.e. sr.no 1 & Sl. No. 4i
to 4viii in Schedule Part B-TI is not
allowed.
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 02 October 2018
Okay. So form 10B is not filed or is filed after due date. You have to pay tax on total income.
Suvitha
(Accountant)
(385 Points)
Replied 02 October 2018
dear sir
did not file 10 b because ay 2017-18 donation received 380473 only but donation paid 658535 so that not filed
did not file 10 b because ay 2017-18 donation received 380473 only but donation paid 658535 so that not filed
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 02 October 2018
You cannot set off the donations. Donation received is above basic limit.
Alternatively, If the donation paid is eligible for deduction u/s 80G, make a request for rectification and claim it under chapter VIA, not as application of income of the trust.
Alternatively, If the donation paid is eligible for deduction u/s 80G, make a request for rectification and claim it under chapter VIA, not as application of income of the trust.
Suvitha
(Accountant)
(385 Points)
Replied 02 October 2018
dear sir,
ay 2014-15 income over expenditure 3576
ay 2015-16 income over expenditure 164259
ay 2016-17 income over expenditure 95870
ay 2017-18 income over expenditure (- 278064)
all are bank transaction only they use only help to poor people they donate received amount only
thanks
ay 2014-15 income over expenditure 3576
ay 2015-16 income over expenditure 164259
ay 2016-17 income over expenditure 95870
ay 2017-18 income over expenditure (- 278064)
all are bank transaction only they use only help to poor people they donate received amount only
thanks
SHIRISH S S
(Proprietor)
(1030 Points)
Replied 02 October 2018
Fresh claims of Deduction - revise return till 31 March 2019.
Recent Topics
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
- How to reverse wrong transaction payment in phonep
- Issue with refund for person who has filed for rel
- How to take ITC for October 2024 GST Payment in PM
- How to refund a wrong transaction Phone Pe?
Related Threads
CAclubindia
