Application of money
This query is : Resolved
M KRISHNA SAI
(Querist)
21 December 2012
investment out of donation received from different organisation in mutual funds viz; Sundaram BNP Paribas, HDFC Mutual Fund etc can be claimed as application of money in case of trusts. If yes, please provide the section under income tax act
Yogesh Agarwal
(Expert)
21 December 2012
Please refer section 13 of the income tax act.
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