Whether receipt of Donation in Kind like jewellwery etc. by a registered trust can be treated as INCOME u/s 2(24) of the Income Tax Act,1961.
Whether receipt of Donation in Kind is Income for a trust
Aditya (none) (32 Points)
01 December 2010
Manmohan ACA, CS
(Chartered Accountant )
(14243 Points)
Replied 02 December 2010
Originally posted by : Sneha..sunshine.. | ||
i think yes it will be.... |
pooja
(student)
(101 Points)
Replied 05 July 2011
no it will not be consider as income bec. donation given in kind not get deduction u/c VI-A
hence when person give donation it already taxed under giver hand...so if charitable trust consider it income it will be double taxable
let me know if m wrong
thanks