Application of income of trust
This query is : Resolved
CA. K George Philip
(Querist)
07 June 2017
Whether temporary interest-free advances returned to the Managing Trustee are allowable under Section 11 as application of income. The advances were taken by the Trust for various charitable activities.
Thanks in advance.
Thanks in advance.
CA R SEETHARAMAN
(Expert)
07 June 2017
It is not an application of income allowable u/s 11.
CA. K George Philip
(Querist)
07 June 2017
What about refundable security deposit for building lease ? is it a valid application. ?
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