Sarvseva Trust is a charitable trust registered under Section 12AB with the main object of relief of poor. The trust received an income of 5 lakhs…

Sarvseva Trust can claim income of 5lakhs received on 30.3.2026 as application for charitable purpose of income during the FY 2025-26 if the income is applied for charitable purposes in India during the P.Y. immediately following the previous year in which the income was derived i.e., P.Y. 2026-27. For exercising such option for availing the extended period for application, Sarvseva trust has to exercise an option in writing that the income applied later as prescribed may be deemed to be income applied to the relevant charitable purposes during the previous year in which the income was derived. Such option has to be exercised at least 2 months before the due date for filing return of income specified under section 139 (1) . The income so deemed not to be taken into account in calculating the amount of income applied to such purposes, during the previous year i.e. PY 2026-27 being the immediately following previous year in which such income was derived.