{"id":33278,"date":"2023-03-19T16:29:28","date_gmt":"2023-03-19T10:59:28","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=33278"},"modified":"2023-03-19T16:29:28","modified_gmt":"2023-03-19T10:59:28","slug":"charitable-trust-adjustment-of-loss-in-covid-2019-from-deemed-income-u-s-113","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/charitable-trust-adjustment-of-loss-in-covid-2019-from-deemed-income-u-s-113\/","title":{"rendered":"Charitable Trust &#8211; Adjustment of loss in Covid-2019 from deemed income u\/s.11(3)"},"content":{"rendered":"<p>The issue relates to A. Y. 2021-22 which was Covid-2019 pandemic period.\u00a0 The education institution incurred loss of Rs.2.89 Cr. for the reason that the fees from student reduced substantially while the expenditure on salary allowances continued as usual.\u00a0 The accumulation u\/s.11(2) for A.Y. 2015-16 and 2016-17 was utilised to set off the loss arising due to peculiar circumstances.\u00a0 The deemed income u\/s. 11(3) to the extent of Rs.2.89 Cr. was considered in the computation of income.\u00a0 The net result of computation was Nil.\u00a0 My question is whether the\u00a0 loss can be adjusted from the deemed income u\/s. 11(3).<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[347,34],"class_list":["post-33278","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-adjustment-of-loss","qa_tag-charitable-trust"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/33278","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=33278"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=33278"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=33278"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=33278"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=33278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}