16 September 2015
I have a client - trust who is having surplus of Rs 175,000 for AY 2015-16, the client has to invest in modes specified u/s 11(5) of Income Tax Act, 1961 before due date of 139(1). Now, my query is that client is in need of money in the next month and please suggest a practical flexible mode of investment ? So that client can invest and claim investment for AY 2015-16!
But , client now has only Rs 1 Lakh and Rs 75,000 was already utilized for the objects of the trust. What has to be done in this case?
CAclubindia
