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

Goo response. Keep it up for professionals.
C A Shah D J
USA

---

From: Ekant Jain <ekantjain_ca@yahoo.co.in>
To: "aaykarbhavan@yahoogroups.com" <aaykarbhavan@yahoogroups.com>
Sent: Tuesday, 28 August 2012 8:18 AM
Subject: Re: [aaykarbhavan] Re: {Amresh's CA's} TRUST QUERY:- URGENT

 

Dear Sir,

Exemption under Section 11 & 12 for trust and u/s 10 (23C) is separate.

If it satisfies condition of one section for exemption then it is not necessary to satisfy condition of other section as both is different. Both section stipulates different conditions for exemption.  

If exemption is being claimed exempt under 10(23C)(iiiad), then approval is needed otherwise not.

Moreover, it is one of the objective of your Trust to provide education. It does not fall under the word 'any university or other educational institution existing solely for educational purposes'.

Views expressed herein are personal.   

Regards

CA Ekant Jain

91-9582365251

---

From: Dipak Shah <djshah1944@yahoo.com>
To: "ICAI_CIRC_MEERUT_CA@yahoogroups.com" <ICAI_CIRC_MEERUT_CA@yahoogroups.com>
Cc: Anil Goyal <anilkotputli@yahoo.in>; AAYKARBHAVANGOOGLE <aaykarbhavan@googlegroups.com>; aaykarbhavan <aaykarbhavan@yahoogroups.com>; "ahmedabadcas@yahoogroups.com" <ahmedabadcas@yahoogroups.com>; ALWAR CA GROUP <ALWAR_CHARTERED_ACCOUNTANTS@yahoogroups.com>; aurangabadcas <aurangabad_ca@yahoogroups.com>; "awakenedcas@yahoogroups.co.in" <awakenedcas@yahoogroups.co.in>; C A Bhupendra Shah Mumbai <GlobalIndianCAs-owner@yahoogroups.com>; C A Dipak Jain <djain128@gmail.com>; C A Krishanlal Bansal <klbansal@gmail.com>; C A Madhusoodan Kakkad. <camnkakkad@gmail.com>; C A of Thane <ThaneCAs@yahoogroups.com>; C A Pune Groupd <casofpune-subscribe@yahoogroups.com>; CA News <CANEWS@yahoogroups.com>; "ca expert team@yahoogroups.com" <ca_expert_team@yahoogroups.com>; cacscw india group <cacscwaindia@yahoogroups.com>; "cacscwaindia@yahoogroups.co.in" <cacscwaindia@yahoogroups.co.in>; Chartered Secretaries <chartered_secretary@yahoogroups.com>; "Chartered_accountant@egroups.com" <Chartered_accountant@egroups.com>; chartered accountant <Chartered_accountant@yahoogroups.com>; "chartered_accountants@yahoogroups.com" <chartered_accountants@yahoogroups.com>; Company Secretaries Yahoo.Groups <aicsc@yahoogroups.com>; Company Secretary <company_secretary@googlegroups.com>; Company Secretary <company_secretary@yahoogroups.com>; CS A Rengarajan <csarengarajan@gmail.com>; CS <cs_companysecretaries@yahoogroups.com>; CS_MYSORE GROUP <csmysore@googlegroups.com>; Finpros Furum <finpros@yahoogroups.com>; ghaziabadca <ghaziabad_ca@yahoogroups.com>; icai-circ_ meerut <ICAI_CIRC_MEERUT_CA@yahoogroups.com>; itaxusers <itaxusers@googlegroups.com>; Jaipur CA <Jaipur_CA@yahoogroups.co.in>; JAIPUR CA JAIPUR CA GROUP <jaipurca@yahoogroups.com>; Jalgaon ICAI <jalgaon@icai.org>; Jalgaon C A <jalgaoncas@googlegroups.com>; lawprofessional Moderator <lawprofessional-owner@yahoogroups.com>; lucknow C A Group <lucknow-ca@yahoogroups.com>; lucknow <Lucknowca_reinvented@yahoogroups.com>; New Delhi CA forum <new_delhi_ca@yahoogroups.com>; "nicsi@yahoogroups.co.in" <nicsi@yahoogroups.co.in>; "Panipat_CA@yahoogroups.com" <Panipat_CA@yahoogroups.com>; CA RUNGTA PD <pdrungta@gmail.com>; "Ranchi_Chartered_Accountants@yahoogroups.com" <Ranchi_Chartered_Accountants@yahoogroups.com>; sankaramoorthy sankaralingam <ssmarchana@yahoo.com>; taxfin <taxfinsoft@yahoogroups.com>; "bjpcacell-owner@yahoogroups.co.in" <bjpcacell-owner@yahoogroups.co.in>; "sensitiveadvisor2008@yahoogroups.co.in" <sensitiveadvisor2008@yahoogroups.co.in>
Sent: Tuesday, 28 August 2012 3:05 AM
Subject: [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

---

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 .

__._,_.___

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe

__,_._,___