Trust Donations - Latest News Update, Information, Photos & Videos on Trust Donations at Lokmat Times

The Income Tax Department has clarified that eligible donations made by a trust to another trust are treated as applications only to the extent of 85% via issuing a circular.It is clarified that eligible donations made by a trust/ institution to another trust/institution under any of the two regimes referred to in para 2 shall be treated as applications for charitable or religious purposes only to the extent of 85% of such donations.It means that if a trust or institution in either regime donates Rs. 100 to another trust or institution in either regime, it is regarded to have used 85% (Rs. 85) for charitable or religious purposes.It is clarified that 15% (Rs.15) of such donations by the donor trust/institution are not required to be invested in specified modes under Section 11(5) of the Act because the entire amount of Rs. 100 has been donated to the other trust/institution and is thus eligible for exemption under the first or second regime

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Trust donations, Latest News

National :CBDT Clarifies Provisions Under Finance Act 2023 Relating to Donations

The Income Tax Department has clarified that eligible donations made by a trust to another trust are treated as ... ...