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Income Tax - Highlights / Catch Notes

Home Highlights January 2019 Year 2019 This

Exemption u/s 11 - the trust could be entitled to claim ...


Trust Can Claim Exemption u/s 11 of Income Tax Act to Carry Forward Excessive Deficit.

January 25, 2019

Case Laws     Income Tax     AT

Exemption u/s 11 - the trust could be entitled to claim excessive carry forward of deficit which resulted after making an allowance of 15% of gross receipts u/s 11(1)(a) and then claiming the application of income to the extent of expenses incurred on the objects of trust.

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