.........I'm one of the Trustee of a charitable trust started recently and hence some related questions.... 1. As I understand a Trust takes min 3 years to get registered u/s 12A and tax rates similar to AOP/BOI is applicable till then. Please help me to understand the process involved here to get recognized as a public Charitable Trust. 2. Does any donations received by a Trust towards relief to the poor, education, medical are exempted from Tax or it becomes part of income? If exempted how much is exempted and which documents should be maintained by the Trust to claim exemptions. 3. If it falls under income, what is the maximum limit of income after which income tax is applicable/computed and what what rates income should be computed? 4. Any samples of tax computations for Charitable Trusts which are not yet registered under section 12A? 5. Trust Deed already registered at Sub-Registrar Office. Is it necessary to register the Trust any where else other than Income Tax dept for section 12A and to get 80G benefits?
Jun. 08, 2018