Saturday, December 24, 2011

IT : Donation by a charitable trust to other charitable institution cannot resul

IT : Donation by a charitable trust to other charitable institution cannot result in same becoming income of donor-trust

Income-tax : If the assessee-trust either itself uses any part of its income for charitable purposes or donates the same to any other charitable trust, such income is exempt from inclusion in the total income of the assessee trust for the relevant year [Section 11 of the Income-tax Act, 1961 - Charitable or religious trust - Exemption of income from property held under] - [2011] 10 taxmann.com 128 (Delhi - ITAT)

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