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Income Tax Approval of the Trust

Brief Overview

Every trust deed needs to be approved by the income tax authorities to claim the deduction under section 36 (1)(v) of the Income Tax Act, 1961.

OUR SCOPE OF WORK

  • Application for the pan card of the trust
  • Preparation of the documentation for the submission to income tax authorities
  • Application with the commissioner of income tax for the approval of the trust
  • Appearing before the income tax authorities for the approval of the Trust
  • Continuous follow up till the trust approval letter is received from the income tax

Documents Required

  • Copy of the Trust Deed
  • Copy of PAN card of Employer
  • Copies of Audited Financials and ITR of Employer for the latest available three years
  • List of all the offices and branches of the Employer
  • List containing the details of Employees of the Employer
  • Name and address of the trustees

WHY EASY ACCOUNTING

  • Approximately 42,000 employees in the trust advised by us
  • Trusted by more than 100 trusts across India
  • Faster turnaround time for income tax approval
  • One stop solution for the entire process
  • Hassel free experience in the complex process
  • 5+ Years of group gratuity centric experience

TIMELINES

  • Process for Income Tax Approval takes around 4-6 months from the date of execution of Trust Deed

KEY CLIENTELE

  • An American multinational shipping & receiving and supply chain management company
  • Listed Aerospace and defense company
  • Listed subsidiary of the Indian conglomerate providing Satellite Communication Service Provider
  • Listed Multinational Multi-technology automotive components supplier
  • Leading Trade Credit Insurance Adviser
  • One of the biggest listed Rural non-banking financial Company
  • Manufacturer of high-quality reactive dyes
  • Leading logistics service provider
  • Leading American Multi-national construction company with presence in 20 countries
  • World’s leading synthetic rubber company
  • India’s most recognized stationery brand

FAQs

Yes, it is mandatory to take the approval from the commissioner of income tax in order to get the deduction of expenses under section 36 (1)(v) of the Income Tax Act, 1961.