{"id":31398,"date":"2022-12-19T20:10:02","date_gmt":"2022-12-19T14:40:02","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=31398"},"modified":"2022-12-20T06:11:48","modified_gmt":"2022-12-20T00:41:48","slug":"charitable-trust-2","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/charitable-trust-2\/","title":{"rendered":"Charitable Trust"},"content":{"rendered":"<p>Assessee is charitable trust having registration under Bombay Public Trust and U\/Sec 12A of the Income Tax. The main object of the trust is of Educational activities. The trust has constructed a building with the support of corpus donations.\u00a0 However could not commenced the Educational activities and therefore given the said property on rental basis to another trust having similar object.<\/p>\n<p>Issues :<\/p>\n<p>1. How to offer income from rent for Tax ? Whether it is income from house property or Income by claiming exemption U\/sec.. 11 of Income Tax Act.<\/p>\n<p>2. How to maintained books of accounts of mercantile method or cash method .<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[34,228],"class_list":["post-31398","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-charitable-trust","qa_tag-income-from-house-property"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/31398","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=31398"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=31398"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=31398"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=31398"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=31398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}