During the P.Y.2023-24, YourCare Charitable Trust registered under section 12AB received donations of 90 lakhs, out of which 10 lakhs were corpus…
CA Final · Direct Tax Laws and International Taxation · MTP · May 2024
During the P.Y.2023-24, YourCare Charitable Trust registered under section 12AB received donations of 90 lakhs, out of which 10 lakhs were corpus donations which were deposited in post office savings bank account and 20 lakhs were anonymous donations. The trust applied 40 lakhs towards its objects during the P.Y.2023-24. The tax liability of the trust for A.Y.2024-25 is -
Suggested Answer and Working Notes:
Correct Answer: Option (C)
₹ 6,35,960
Topics: Assessment of Trusts and Institutions, Political Parties and Other Special Entities
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