Tag Archives: Income of Trusts

The Income of Trusts is the income which trust received as voluntary or restrictive contribution from the persons.trust keeps the money accordingly.

Taxability of Co Op Housing Society Income

Taxability of Co Op Housing Society Income Most of the People seen Taxability of Housing Society to be Nil.Which isn’t valid. By and large salary of Co-agent Housing Societies (CHS) does not fall under expense risk, but rather any pay which is business in nature should be accounted for and suitable come back with PAN […]

Trust Registration in India

Trust Registration in India A private trust, created under and governed by the Indian Trusts Act of 1882, aims at managing assigned trust property for private or religious purpose. The law relating to private trusts is governed by the Indian Trusts Act (“Trust law”). A trust is basically a vehicle under which property is transferred […]

Trust Registration and Tax Rate Under Income Tax

Trust Registration and Tax Rate – Income Tax Trust formed for charitable or religious purposes which are not intended to do commercial activities are allowed various benefits under the Income-Tax Act, inter-alia, exemption under section 11. The term religious purpose is not defined under the Income-Tax Act. However, Section 2(15) of the Act defines “charitable […]

Income of Trusts

Income of Trusts In India there are many religious/charitable trusts for e.g. temples, Ashram, Gurudwaras, hospitals, educational, etc. propagating and working for social and charitable activities. What about their financial and taxing matters? These trusts have to follow many regulations. Mainly they have to follow the rules of Bombay Public Trust Act (For Maharashtra State), […]