TMI BlogExpenses incurred for object disallowedX X X X Extracts X X X X X X X X Extracts X X X X ..... Assessee is a trust registered under soceities Registeration Act. However it is not registered u/s 12A of the Income Tax Act. Total receipt during the year is. ₹ 31,39,726. Expenditure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... incurred for the object of the trust ₹ 26,51,438/- Surplus of income over expenditure is ₹ 4,88,288 Tax has been paid on ₹ 4,.88,288/- Return has been filed in form No.7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CPS has has disallowed expenses for ₹ 26,51,438.- and computed tax on entire receipt of Rs, 31,31,726/- Rectification u/s 154 was filed but again tax been computed on entire receipt. Pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ease suggest the action to be taken for determination of correct income In subsequent and earlier year return has been filed in form no. 5 and income has been computed correctly - Reply By Nan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dan Khambete - The Reply = For claiming exemption u/s 11 or 12 , Registration u/s 12A is a must - Expenses incurred for object disallowed - Query Started By: - GOPAL HARLALKA Dated:- 20-6-201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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