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Provision for Charitable Trust Under Income tax

Harish Chandra (CA (Final) Student & Doing Job in a CA Firm) (1646 Points)

04 July 2011

Can anyone Share Provision for Charitable Trust Under Income tax (Section 10-13 )

Regitration procedure for Trust

Account maintainance

Audit Procedure

Exemption to various trust

And other provision

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3 Replies

CA Rajesh Keshri (CA) (175 Points)
Replied 04 July 2011

Every trust is required to apply 85%of total income for capital or revenue expense & balance 15% after deduction of admnstration expense can be retained permanently

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CA Rajesh Keshri (CA) (175 Points)
Replied 04 July 2011

Exemption u/s 11/12 apply to trust from a.y immediately following f.y in which application of regstrn is made

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 04 July 2011

Originally posted by : rajesh keshri
	Every trust is required to apply 85%of total income for capital or revenue expense & balance 15% after deduction of admnstration expense can be retained permanently