Legal Question in Credit and Debt Law in India

I wish to open a charitable trust, under which there shall be a company who would run only to generate profits for the poor. My question is would that company be taxable?


Asked on 6/05/16, 2:20 am

2 Answers from Attorneys
Dr Katta Venkata Rama Krishna Drkattavrk

The entire income of such trust (be it house property, capital gain or any other income) is taxed as per the provisions of section 11-13 of the Income Tax Act ,1961

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Answered on 6/05/16, 2:33 am
Fca Prashant Chavan Expert Edge LLP

05.06.2016

Dear Sir / Madam,

Yes. But the Company is entitled to certain deductions from it's annual profits.

Regards,

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Answered on 6/05/16, 3:57 am


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