Section 11 & 12 of Income Tax, Income Tax

[CA Rachit Agarwal]

We wish to know whether interest income received by trust registered pursuant to provision of Section 12AA of the Income Tax Act, 1961 is also available for exmeption u/s 10 and 11 of the Act if the same is used for charitabole and religious purposes.

Posts / Replies

[tarsem gupta]

Yes, interest income is exempt if applied for charitable purpose.