ITR 7 FILING ON DONATION OF A TRUST

MEENA VIVEK (253 Points)

06 July 2024  
WE ARE A CHARITABLE TRUST AND WE HAVE PAID A DONATION TO ANOTHER TRUST REGISTERED UNDER SECTION 12AB OF INCOME TAX ACT(OUR TRUST ALSO REGISTERED UNDER SECTION 12AB).AS PER ACT 85%ONLY ALLOWED AS APPLICATION FOR AN EXAMPLE DONATION PAID IS Rs.450000/ BUT ALLOWABLE ONLY 85% THAT IS Rs. 382500/ IN THE PAID AMOUNT OF THE DONATION IN TRUST RETURN.BALANCE AMOUNT OF Rs.67500/ TO BE FILLED WHICH COLUMN IN ITR 7.AMOUNT APPLIED COLUMN OF ITR 7 ALSO TOOK 85%ONLY.KINDLY GUIDE US.BECAUSE RETURN FILING DATE IS FAST APPROACHING.