Charitable Trust - 85% of income not expended

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... We are a registered pubic charitable trust. Due to the lockdown for COVID19, we fell short of spending 85% of our income for the FY 2019-20. In this regard I have 2 questions 1. Does the extended inv .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... estment time till 30th June 2020 announced by the HFM for financial year 2019-20 will also be applicable for trust and we can spend the shortfall amount within June 30, 2020 for the financial year 201 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 9-20. 2. If the above point is not True, what options are available to us. We have not invested the shortfall within 30th March 2020 in designated areas for carry forward - Reply By Kushal Mishra - .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... The Reply = You need to submit form 10B before the filing of returns. - Reply By CASusheel Gupta - The Reply = Benefit of extension of investment has been extended to instances covered under se .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ction 54 to 54GB and Chapter VI . This benefit is not available under section 11 , unless specifically notified. Since you have not made investment till 31st March, you can file Form 9A , so .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... that expenses incurred during the FY 20-21 are considered as having been incurred for FY 20-21. CA Susheel Gupta 9811004443, 8510081001 - Charitable Trust - 85% of income not expended - Quer .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... y Started By: - Ujjal Maitra Dated:- 18-4-2020 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxman .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... agementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X