Taxation of trust
Devang Darji (11 Points)
13 April 2019
what if trust formed u/s 11 retain more than 15% income ? and what is taxation on this income
1 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 13 April 2019
As per section 11 of the Income tax act 1961 , a Trust spends more than or equal to 85% of its total receipts towards its object in India , there is no tax on balance 15% .
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