Corpus Donation

[DK AGGARWAL]

Respected Sir

A Religious Trust registered under 12AA wish to give Corpus donation to other religious trust registered u/s 12AA and my query is as under

1–Is there any way so that main trust A can give Corpus donation to other B trust out of the following funds

FDRS funds

Interest from FDRs

Rental income

Old corpus funds carried forward

If the answer is YES, kindly confirm under which section

AND, If answer is No, please inform if normal donation is given bt trust A to other trust B and money is not spent fully by donee Trsut B, then whether unused/unutilized money after 15% deduction, shall be taxed at slab rate or at maximum rate.

Please respond asap

Regards

D K Aggarwal

AI Summary

Religious trust queries donation of corpus to another trust under 12AA using FDRs, interest, rental income, or old funds. A religious trust registered under section 12AA seeks to donate its corpus to another similarly registered trust. The query involves whether the donation can be made using funds from fixed deposit receipts (FDRs), interest from FDRs, rental income, or old corpus funds. If permissible, clarification is sought on the applicable section. Alternatively, if a normal donation is made and not fully utilized by the recipient trust, the question is whether the remaining funds, after a 15% deduction, would be taxed at the slab rate or the maximum rate. The response refers to a previous answer in discussion forum entry 116592.