S.N. CONTENT SECTION

1. Charitable purpose 2(15)2. Income from CHARITABLE

TRUST11

3. Registration of trust 12A4. Procedure of Registration 12AA5. Forfeiture of exemption.(cases

when exemption is not available)

13

6. Income of Political parties 13A7. Income of a electoral trust 13B

DEFINITION OF CHARITABLE PURPOSE INCLUDE……….

1.RELIEF TO POOR

2.EDUCATION

3.MEDICAL RELIEF

4.ANY OTHER OBJECT OF PUBLIC UTILITY

Sec. Nature of income Exemption allowed

11(1)

(a)

Income from property held under

trust wholly for charitable or

religious purposes in India

If—(A) income is applied OR deem to be

applied to such charitable or religious

purposes .

(B) Such 15% income is set apart for

application to such purposes .

11(1)

(c)

Income from property held under trust

for charitable purposes outside India

If—the trust promotes INTERNATIONAL

WELFARE in which INDIA IS

INTERESTED

11(1)

(d)

Income in the form of voluntary

contributions received with a specific

direction that they shall form part of

the corpus (principal part of fund) of

the trust or institution.

100% exemption.

NOTES- Contributions received without such specific direction are deemed to be

income from property held under trust…

TAX SAVING

?

Within 6 months, On receipt of an app. For reg. The Chief CIT/CIT shall call for documents & informationTo satisfied himself about the activities of trust

.. If commissioner found that trustare not being carried out as per object of trust,

He shall cancel the registration.

1.Income of religious trust not used for public

benefit. [sec.13(1)(a)]]

2.Income of charitable trust created for

benefit for particular religious

community.[sec.13(1)(b)]

3.Income/ property of charitable or religious

trust applied for direct or indirect benefit of

person referred in 13(3) . [sec.(13)(1)(c)].

4.Anonymous donations.[sec.115BBC]

SEC.13

Anonymous donations liable to be taxedat 30%.

If Name & address of donor is not maintained.

But anonymous donation taxable upto--.

Sec.115BBC

Maintains books & other required documentMaintains record of voluntary contributions exceeding 20000.A/cs are audited by a CA.Registered with the Election Commission of India as a political party