{"id":27357,"date":"2022-06-18T19:05:44","date_gmt":"2022-06-18T13:35:44","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=27357"},"modified":"2022-06-20T05:24:19","modified_gmt":"2022-06-19T23:54:19","slug":"taxability-of-a-trust-carrying-on-business-activity","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/taxability-of-a-trust-carrying-on-business-activity\/","title":{"rendered":"taxability of a trust carrying on business activity"},"content":{"rendered":"<p>Respected sir,<\/p>\n<p>A charitable trust registered u\/s 12A(a) of the Act, now carrying on business activity\u00a0 having\u00a0 in excess of 20% of gross receipts wants to forfeit exemption u\/s 11 . what is the itr form to be used?\u00a0 taxability is on net receipts (after expenses) or on grosss receipts , what is the rate of tax ?<\/p>\n<p>Pl elucidate<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[34,569,86],"class_list":["post-27357","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-charitable-trust","qa_tag-private-discretionary-trust","qa_tag-taxation-of-trusts"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/27357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=27357"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=27357"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=27357"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=27357"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=27357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}