QUESTION: 205 Exam Topic: 3, Volume C

One of the essential condition for obtaining exemption of the income of a charitable trust is that at least_____________ of the income should be applied for charitable purposes in India with certain exceptions and exemptions.

65%
75%
85%
Either 75% or 85% depending on the date which it is created

Answer(s): D

Reveal Solution Next Question

QUESTION: 206 Exam Topic: 3, Volume C

______________ of Income Tax Act,1961 provides for the Registration of a Charitable Trust.

Section 12A
Section 13A
Section 64A
Section 65A

Answer(s): A

Reveal Solution Next Question

QUESTION: 207 Exam Topic: 3, Volume C

The application for Registration of Trust has to be made in the prescribed Form No. _______________ to the Chief Commissioner of Income Tax or the Commissioner of Income Tax of the area concerned.

Form 1A
Form 1B
Form 10A
Form 10B

Answer(s): C

Reveal Solution Next Question

QUESTION: 208 Exam Topic: 3, Volume C

_____________ of the Income Tax Act,1961 contains the provision that the profits and gains of the business carried on by a Charitable Trust would be fully exempt from tax.

Section 11(1A)
Section 11(4A)
Section 21(1A)
Section 21(4A)

Answer(s): B

Reveal Solution Next Question

Free CTEP Exam Braindumps (page: 52)

QUESTION: 205 Exam Topic: 3, Volume C

QUESTION: 206 Exam Topic: 3, Volume C

QUESTION: 207 Exam Topic: 3, Volume C

QUESTION: 208 Exam Topic: 3, Volume C