Question ID :
44811
Corpus fund of trust/Society not registered under Income Tax Act
Corpus fund of trust/Society not registered under Income Tax Act. Whether taxable?
Posted by
Sivaraman A.R.
on
Mar 01, 2025
Filed Under
DIRECT TAXES
There are some judgments directing that corpus donation, being capital receipt is not taxable in the hands of unregistered trusts also. But all such judgments are issued before amendment made in section 11(1)(d). The judgments issued after this amendment such as judgment of ITAT Chennai in case of Ramsahaimal Sahuwala & Sons Charitable Trust Vs ACIT (ITAT Chennai) ITA No. 53 to 61/Chny/2023 held that corpus donation is income in the hands of unregistered trusts.
Posted by
CA. chunauti dholakia on
Mar 04, 2025