Taxation of unregistered trust

Prithvi (Querist) 20 July 2016 This query is : Resolved
I am having a query about taxation of Trust not Registered with Income Tax U/s 12AA .

Such unregistered trust have Income of Rs 17 Lacs from Government for social welfare Projects & Rs 1 lac of Voluntary Contribution (not Corpus donation) . The Trust had expanded the whole of Rs. 17 Lac (even more) of the grant received for the specified purpose of welfare project & the trust have also incurred administrative expenses of Rs 1.5 lac approx. The whole operation resulted in loss for the particular financial year.

Now the query is , what will be the taxable Income of this Trust. Whole of Rs. 18 Lac , or Rs 1 lac of donation or zero Income , as trust suffered loss ?

Also please guide, if the trust is unregistered, then which ITR form (ITR 5 or ITR 7) will be use for Income Tax Return Filing.

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