[aaykarbhavan] Re: {Amresh's CA's} TRUST QUERY:- URGENT

http://www.carkgupta.com/Image/Taxability%20of%20EducationalInstitutions.pdf

https://www.google.com/#hl=en&sclient=psy-ab&q=+APPROVAL+OF+CCIT+U%2FS+10+%2823C%29+iiiad++under+Income+Tax+of+India&oq=+APPROVAL+OF+CCIT+U%2FS+10+%2823C%29+iiiad++under+Income+Tax+of+India&gs_l=hp.12...9449.29553.0.32047.31.30.1.0.0.0.193.3479.4j26.30.0.les%3B..0.0...1c.znyrYTrmN4c&pbx=1&bav=on.2,or.r_gc.r_pw.r_cp.r_qf.&fp=48577dbfdd8cbd4f&biw=1366&bih=598

Visit above link and find reply .

C A Shah D J

USA

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From: Anil Goyal <anilkotputli@yahoo.in>
To: ICAI MEERUT <ICAI_CIRC_MEERUT_CA@yahoogroups.com>
Sent: Monday, 27 August 2012 8:54 AM
Subject: {Amresh's CA's} TRUST QUERY:- URGENT

 

ONE TRUST IS REGISTERED U/S 12A AND 80-G.   APART FROM OTHER CHARITABLE ACTIVITIES, IT IS ALSO RUNNING A SCHOOL.   MORE THAN 85 % OF TOTAL  INCOME OF TRUST IS BEING UTILISED FOR CHARITY PURPOSE.  NOW RECEIPT OF SCHOOL IN CURRENT YEAR IS LIKELY TO EXCEED Rs 1 CRORE . MY QUERY IS WHETHER TRUST IS REQUIRED  TO OBTAIN THE APPROVAL OF CCIT U/S 10 (23C) iiiad DESPITE THE FACTS THAT IT WILL APPLY  MORE 85% OF INCOME FOR CHARITY PURPOSE.  IF IT DOES NOT APPLY WHAT CONSEQUENCES MAY BE ? . I FEEL TILL  IT IS UTILISING MORE THAN 85 % OF INCOME FOR CHARITY PURPOSE, THERE IS NO NEED  TO APPLY FOR APPROVAL OF CCIT.  DEAR FRIENDS GIVE YOUR OPINION WHETHER  TRUST SHOULD APPLY OR NOT .

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