Expenses incurred for object disallowed

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..... Expenses incurred for object disallowed
Query (Issue) Started By: - GOPAL HARLALKA Dated:- 20-6-2019 Last Reply Date:- 3-7-2019 Income Tax
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Income Tax
Assessee is a trust regis .....

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..... tered under soceities Registeration Act. However it is not registered u/s 12A of the Income Tax Act. Total receipt during the year is. ₹ 31,39,726. Expenditure incurred for the object of the .....

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..... trust ₹ 26,51,438/- Surplus of income over expenditure is ₹ 4,88,288 Tax has been paid on ₹ 4,.88,288/- Return has been filed in form No.7 CPS has has disallowed expenses for S .....

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..... 77; 26,51,438.- and computed tax on entire receipt of Rs, 31,31,726/- Rectification u/s 154 was filed but again tax been computed on entire receipt. Please suggest the action to be taken for determi .....

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..... nation of correct income In subsequent and earlier year return has been filed in form no. 5 and income has been computed correctly Reply By Nandan Khambete: The Reply: For claiming exemption u/s 1 .....

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..... 1 or 12, Registration u/s 12A is a must
Discussion Forum - Knowledge Sharing .....

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