What incomes are not included for computation of taxable incomeof a trust/ society?

Following incomes are not to be included in the income of the trusts /society:

·         Income derived from the property held under trust wholly for the charitable and religious

·         purposes actually spent in these purposes in India .

·         Income set apart to the extent it does not exceed 25% of the total income from the property.

·         In case of trusts created before 1/4/61 , the income derived from the property held under trust partially for the charitable and religious purposes which has been actually spent in India .

·         In the above case , the income being set apart to the extent not exceeding 25% of the income from such property.

·         The income as derived by a trust created after 1/4/52 and spent out side India for the charitable purposes . These trusts shall be specified by the CBDT.

·         In case of the trusts created before 1/4/52 , the income is allowed to be spent out side India for the charitable and religious purposes.

·         Income by way of voluntary contributions towards the corpus of the trust.