Trust amendment
kavksatyanarayana
(Querist) 23 May 2013
This query is : Resolved
Sirs/Madams, if a person created a trust for charitable services and it was registered in Registrar office2/3 yrs back. Creator/founder of the trust appointed trustees, and there is a clause that it will be get exemption under Sec 12 of IT Act from Income tax department. but he did not file the returns till date and get the exemption.
the question are: can he file the returns for the last three yrs now? (2) if he wants to amend some clauses or change the trustees, can he make changes after filing of income tax returns or before that? (3) now can he apply for exemption u/s 12? if any procedure please guide
DEFENSE ADVOCATE.-firmaction@g
(Expert) 25 May 2013
1) It is a public trust or private trust.
2) For public trust the existing trustees can pass resolution and submit PROPOSAL for approval of the charity commissioner of your state who may have offices at every Dt place.
It is routine matter.
3) ITR you can file any time.
4) For exemption unless the trust fulfills the requisite conditions under IT ACT than only it will be allowed.
IT IS A SPECIAL LEGAL JOB AND YOU SHOULD ASSIGN IT TO THE EXPERT IN THE FIELD IN YOUR AREA.
