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Applicability of 44ad to trusts

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MANAV CA [ Scorecard : 30]	Posted On 17 August 2011 at 10:28
	Hello everybody... I'm sure that 44AD doesnt apply to trust, but still want to confirm whether it applies to trusts also?

C.A SHASHANK GOYAL Chartered Accountant [ Scorecard : 362]	Posted On 17 August 2011 at 10:57
	Hi, in my opinion it shall not be applicable to trust if it is charitable or religious trust , but if it carries on any bussiness then it will not be covered under the definiton given under section 2(15) and in that case it might be applicable . Plz correct me if I am wrong . Total thanks : 1 times


Krishnanunny student [ Scorecard : 38]	Posted On 01 September 2011 at 21:51
	I agree with Shashank Goyal.... Total thanks : 1 times

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