Audit of Trust(Application of Income)
This query is : Resolved
23 June 2009
hello frnds,
pl clarify the gn below doubt as soon as possible
While calculating application of income in case of trust (ie 85% on income), should we consider Gross Income or Net Income ???
Awaiting ur reply..
Thanks in anticipation
Sangita
pl clarify the gn below doubt as soon as possible
While calculating application of income in case of trust (ie 85% on income), should we consider Gross Income or Net Income ???
Awaiting ur reply..
Thanks in anticipation
Sangita
Ratan Sharma
(Expert)
23 June 2009
Hi Sangita,
Its 85% of gross income and not of net income.
Its 85% of gross income and not of net income.
23 June 2009
its gross income
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