A Goshala Trust received Govt Subsidy from Rajasthan Govt

How the Taxability will be applicable 

Some of Facts :

Donation Received Rs 4,00,000

Subsidy received Rs. 3,20,000

Total Expenditure for Maintenance Grass etc. 6,06,711

Please advice in which sections what will come and how to prepare Tax Audit Report

 

Posted 3 years, 1 month ago by SANJAY KUMAR GANNA


Is there any requirement to disclose Subsidy received from Govt in the Audit Report

Posted 3 years, 1 month ago by SANJAY KUMAR GANNA


Subsidy granted for a specific purpose would be a capital reciept which is not taxable. Other Subsidies are in revenue nature , hence would be taxable.

Posted 3 years, 1 month ago by Half-God Half-Man


If its a capital subsidy, it has to be reported under Cluase 13(e) of the Form 3CD

Posted 3 years, 1 month ago by Half-God Half-Man


How Form 3CD will be applicable for Trust

Posted 3 years, 1 month ago by SANJAY KUMAR GANNA


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