Bangur Charitable Trust has earned income of 70 lacs during the previous year 2022-23. It has...

 

Transcribed Image Text:

Bangur Charitable Trust has earned income of 70 lacs during the previous year 2022-23. It has applied the income of 15 lacs, during the previous year 2022-23 and also applied before the due date u/s 139(1) for deferment of application of income of - Case 1) 32 lacs Case 2) 45 lacs - as such income has not yet been received by the trust. During the previous year 2024-25 such income is received and applied as under - Previous Year 2024-25 2025-26 2026-27 Amount applied for charitable purposes Case 1 12 lacs 11 lacs 9 lacs Compute taxable income of the A.Y. 2023-24 and 2026-27 Case 2 15 lacs 10 lacs 20 lacs Bangur Charitable Trust has earned income of 70 lacs during the previous year 2022-23. It has applied the income of 15 lacs, during the previous year 2022-23 and also applied before the due date u/s 139(1) for deferment of application of income of - Case 1) 32 lacs Case 2) 45 lacs - as such income has not yet been received by the trust. During the previous year 2024-25 such income is received and applied as under - Previous Year 2024-25 2025-26 2026-27 Amount applied for charitable purposes Case 1 12 lacs 11 lacs 9 lacs Compute taxable income of the A.Y. 2023-24 and 2026-27 Case 2 15 lacs 10 lacs 20 lacs

Answer rating: 100% (QA)

Assessment Year 202324 Income for the previous year 20222370 lacs Amount applied for charitable purp... View the full answer