Dear Sir/Mam,
We sought guidance/ suggestions regarding the following queries in case of Trust established vide duly executed Trust Deed:-
1. Whether the Trust can receive donation from Trustees towards Corpus in Cash of > Rs. 2,000/- ?
2. Whether donations received by the Trust towards building fund is liable to Tax? as the Trust is not registered u/s 12A?
We assume that this being capital receipts is not liable to tax.
Swayam Jyoti Sharma