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Form 9A and Form 10 of Income Tax Act, Income Tax

Issue Id: - 115388
Dated: 4-9-2019
By:- Krishna Murthy
Form 9A and Form 10 of Income Tax Act

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Sir, An organisation being Trust whose income is chargable under Sec 11 and 12 of Income Tax Act is allowed to accumulate its income to be utilised in the future years in case its application of income falls short of 85%. However, there are two Forms available namely Form 9A and Form 10. Should both these forms to be filed for accumulation purpose. What exactly is the difference between these two forms. Pls clarify.

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1 Dated: 7-9-2019
By:- CASusheel Gupta

A trust can accumulate 85% under 11(2) by way of investment and form 10 needs to filed. The amount invested to be applied in next five years.

Remaining 15% needs to be applied within the relevant previous year. In case 15% is not applied, then form 9A is to be filed. Then this 15% shall not be included in the income of trust forever with no obligation as to application.

Other experts views are solicited.

CA Susheel Gupta


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