https://www.taxtmi.com/manuals?id=2496 Where a trust breaches prescribed conditions, taxable income is computed after allowing deduction only for revenue expenditure (other than capital expenditure) incurred in India for the trust's objects. Breaches include section 13(8)/12A(1)(b)/(ba) failures, excess commercial receipts from non-charitable activity, failure to maintain books, failure to furnish audited report timely, and failure to file returns under sections 139(4A)/139(4C). Deduction of revenue expenditure is permitted only if it is not from corpus, not from borrowings, not linked to previously applied asset acquisitions for depreciation, and not contributions; statutory disallowances such as TDS non-compliance and cash payment limits apply. en-us Thu, 16 Mar 2023 15:16:00 +0530 Thu, 25 Apr 2024 17:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=2496 Where a trust breaches prescribed conditions, taxable income is computed after allowing deduction only for revenue expenditure (other than capital expenditure) incurred in India for the trust's objects. Breaches include section 13(8)/12A(1)(b)/(ba) failures, excess commercial receipts from non-charitable activity, failure to maintain books, failure to furnish audited report timely, and failure to file returns under sections 139(4A)/139(4C). Deduction of revenue expenditure is permitted only if it is not from corpus, not from borrowings, not linked to previously applied asset acquisitions for depreciation, and not contributions; statutory disallowances such as TDS non-compliance and cash payment limits apply. Manuals Income Tax Thu, 16 Mar 2023 15:16:00 +0530 https://www.taxtmi.com/manuals?id=2496