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How can a trust apply for registration under Section 12A?
Trusts can apply for registration by submitting the required documents and forms to the Income Tax Department.
Trusts can apply for registration by submitting the required documents and forms to the Income Tax Department.
See lessAre there limits on deductions under Section 80G?
Yes, deductions are subject to certain limits, depending on the type of institution and the nature of the donation.
Yes, deductions are subject to certain limits, depending on the type of institution and the nature of the donation.
See lessWhat is Section 80G?
Section 80G provides deductions for donations made to specified charitable trusts and institutions.
Section 80G provides deductions for donations made to specified charitable trusts and institutions.
See lessWhat is Section 12A?
Section 12A provides the conditions and procedure for registration of charitable trusts to claim tax exemptions.
Section 12A provides the conditions and procedure for registration of charitable trusts to claim tax exemptions.
See lessHow are charitable trusts taxed in India?
Charitable trusts are eligible for tax exemptions on their income if they fulfill certain conditions and are registered under Section 12A.
Charitable trusts are eligible for tax exemptions on their income if they fulfill certain conditions and are registered under Section 12A.
See lessWhat is composite income?
Composite income includes both agricultural and non-agricultural income from activities like poultry farming and dairy farming, which is partially taxable.
Composite income includes both agricultural and non-agricultural income from activities like poultry farming and dairy farming, which is partially taxable.
See lessAre there any conditions for claiming agricultural income exemption?
Yes, the land must be situated in India, and the income must be derived from agricultural activities.
Yes, the land must be situated in India, and the income must be derived from agricultural activities.
See lessHow is agricultural income calculated for tax purposes?
Agricultural income is calculated by deducting expenses directly related to agricultural activities from the gross agricultural receipts.
Agricultural income is calculated by deducting expenses directly related to agricultural activities from the gross agricultural receipts.
See lessWhat qualifies as agricultural income?
Income from activities like farming, cultivation, and processing of agricultural produce qualifies as agricultural income.
Income from activities like farming, cultivation, and processing of agricultural produce qualifies as agricultural income.
See lessIs agricultural income taxable in India?
Agricultural income is exempt from tax, but it is included in the total income for determining the tax rate on non-agricultural income.
Agricultural income is exempt from tax, but it is included in the total income for determining the tax rate on non-agricultural income.
See less