Can association registered under Bombay Public Trust Act be treated as Association of Persons under ITAct,61?Can it get exemptions under sec 11 as wellas upto Rs 110000 for Associations of Persons both? What is exemption limit like individual/HUF for Public Trusts and Societies/Asso registered under Societies Act & Public Trust Act?
Trust normally comes under AOP
The tax slab for Trusts is Rs. 110,000/- and they can claim benefits u/s 11 only if they are registered under section 12A of the Income Tax Act with the Income Tax authorities |
