Section 11 Income Tax Act: Non-corpus donations treated as trust receipts; income calculated post-expenses.

Section 11 Income Tax Act: Non-corpus donations treated as trust receipts; income calculated post-expenses. https://www.taxtmi.com/highlights?id=40355 Exemption u/s 11 - Once, these donations are not corpus donations, then, automatically all receipts including corpus donations shall be treated as receipts of the trust and income wherefrom shall be computed in normal commercial practices by deducting all expenses. en-us Fri, 13 Jul 2018 11:36:24 +0530 Fri, 13 Jul 2018 11:36:24 +0530 TaxTMI RSS Generator Section 11 Income Tax Act: Non-corpus donations treated as trust receipts; income calculated post-expenses. https://www.taxtmi.com/highlights?id=40355 Exemption u/s 11 - Once, these donations are not corpus donations, then, automatically all receipts including corpus donations shall be treated as receipts of the trust and income wherefrom shall be computed in normal commercial practices by deducting all expenses. Highlights Income Tax Fri, 13 Jul 2018 11:36:24 +0530 https://www.taxtmi.com/highlights?id=40355