{"id":37647,"date":"2023-10-06T19:07:34","date_gmt":"2023-10-06T13:37:34","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=37647"},"modified":"2023-10-10T05:50:10","modified_gmt":"2023-10-10T00:20:10","slug":"voluntary-contributions-received-by-a-trust-can-be-utilised-for-the-purchase-of-fixed-assets","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/voluntary-contributions-received-by-a-trust-can-be-utilised-for-the-purchase-of-fixed-assets\/","title":{"rendered":"VOLUNTARY CONTRIBUTIONS RECEIVED BY A TRUST CAN BE UTILISED FOR THE PURCHASE OF FIXED ASSETS"},"content":{"rendered":"<p>SIR,<\/p>\n<p>My doubt is if The Trust Registered U\/S 11 and 12 of Income Tax Act got the\u00a0 voluntary contributions from public and utilized for the purchase of the fixed assets for the trust\u00a0 does it treat application\u00a0 of income u\/s 11 of Income Tax or not and otherwise shall we show it as a corpus donations please clarify and Trust having 12 A Registration when 85% funds utilized from the Gross Receipts for development remaining 15% can we carry forward in cash or bank form please clarify.<\/p>\n<p>Thanking you sir.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[34,844,1064],"class_list":["post-37647","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-charitable-trust","qa_tag-trust","qa_tag-voluntary-contribution"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/37647","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=37647"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=37647"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=37647"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=37647"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=37647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}