Income tax status for pvt gratuity trust

kishorkumar d adhia (Querist) 15 March 2014 This query is : Resolved
Dear sir/s
Please let me know for applying for new PAN for employees gratuity fund what status should i put i.e. INDIVIDUAL / BOI (BODY OF INDIVIDUALS) / AOP (ASSOCIATION OF PERSONS) / TRUST.

The Trust is created with permission of Commissioner of Income Tax.

As this is not a charitable trust i am confused what status should i put.

PLEASE HELP ME AND OBLIGE.

THANKS
KISHOR D ADHIA

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Guest (Expert) 15 March 2014
I wonder, if a tax consultant is unaware of the tax requirements and implications of law.

But, you have not mentioned, trust is created by whom, individual, body of individuals, association of persons or a company/corporation?

kishorkumar d adhia (Querist) 15 March 2014
sir,

It is a partnership firm who created the trust for their employees gratuity.

R.V.RAO (Expert) 15 March 2014
residential status is as per income tax act.
legal status is as per the constitution or governing act.
as u are regd. as trust with CIT, you might have already stated there as trust.

Rajendra K Goyal (Expert) 15 March 2014
Agree with the expert RV RAO sir.

R.V.RAO (Expert) 15 March 2014
Thanks.sri rajendra goyalji.

Guest (Expert) 16 March 2014
I am of the view that yours is a BOI.

T. Kalaiselvan, Advocate (Expert) 16 March 2014
I agree that it would be treated as body of individuals.

Anirudh (Expert) 16 March 2014
The PAN Application form very clearly states the category as: "Association of Person(s) Trust".

Therefore, if you are a trust, adopt the category as given in the form.

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