Quiz for the week (21 Sep 2026) :
Agro welfare trust registered under section 12AB is engaged in helping agriculturists to store their agricultural produce for nominal rent. During the FY it received Rs.92 lakhs by way of rent and incurred Rs.52 lakhs towards warehouse maintenance, salary, electricity and other incidental expenses. For the first time it also purchased and sold seeds & manures to agriculturists for Rs.30 lakhs and earned net income of Rs.6 lakhs. Is the trust eligible for tax exemption for the AY 2026-27?
Share your thoughts on or before 28.09.2026.