Search Results For: Denial of exemption-Trust or institution-Investment restrictions-No threshold limit if exemption is forfeited

Denial of exemption-Trust or institution-Investment restrictions

QUERY: If a Section 25 company is registered as charitable trust whether threshold limits of
Rs. 2,50,000/- will be available to the company as charitable trusts are assessed as AOP? Similarly what will be the threshold limit applicable in case a society is registered as charitable trust?

ANSWER: Click here to read the full answer of the expert

Income derived by charitable or religious trust is exempt from tax to the extent to which such income is applied to charitable or religious purposes or is accumulated or set apart, in accordance with the provisions of Income-tax Act, for application to such purpose.

Posted in Income-tax