20 March 2012
HI friends! can anyone tell me whether the corpus or building fund created of a charitable trust should be used within a particular timelimit? or can it be carried forward indefinately? also, whether sinking fund can be created for this trust by collecting earmarked donations which can then be used for major repairs?
Guest
Guest
(Querist)
20 March 2012
I also wanted to know what rates a charitable trust would be normally taxed at if it is not able to spend 85% of income in a year and also does not want to carry it forward. would it be like individuals or huf?
CAclubindia
