Any payments made to trustees allowed or not??
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 October 2015
Hello friends,
Gud Nun,
I want to take some help on the topic related to Private Charitable Educational Trust.
Please suggest me that whether the Trustees are allowed to take payment by the way of Salary or Remuneration/ Allowances from Trust or its Colleges (Run by Trust) or if they are not allowed please specify the remedies their on
and state that where it is specifically disallowed as per Income Tax Act.
In above case Trustees are fully eligible as they are professionally qualified and recognized by Governing Authority of University and appointed as Professor/Principal.
Please reply as soon as possible.
Thanks
Gud Nun,
I want to take some help on the topic related to Private Charitable Educational Trust.
Please suggest me that whether the Trustees are allowed to take payment by the way of Salary or Remuneration/ Allowances from Trust or its Colleges (Run by Trust) or if they are not allowed please specify the remedies their on
and state that where it is specifically disallowed as per Income Tax Act.
In above case Trustees are fully eligible as they are professionally qualified and recognized by Governing Authority of University and appointed as Professor/Principal.
Please reply as soon as possible.
Thanks
13 October 2015
Reasonable salary as per section 13(2)(c) of income tax act is allowed.
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