[aaykarbhavan] Trust applying 85% of its income on charitable activities would be entitled to sec. 11 relief

Trust applying 85% of its income on charitable activities would be entitled to sec. 11 relief

March 3, 2015[2015] 54 taxmann.com 247 (Bombay)/[2015] 229 Taxman 247 (Bombay)

IT : Where 85 per cent of gross income of assessee-trust was spent on charitable activities, assessee would be entitled to exemption under section 11

IT : Depreciation on capital assets would be allowed as deduction in computing income under section 11 (Position prior to 1-4-2015)

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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