Can a Trust use part of General Corpus Fund (by breaking corpus FDs) for making donations for charitable purpose? - Say about 10-20% of CORPUS
Trust wants to donate more in this pandemic..
Also give procedures (apart from resolution) and precautions to be taken for that so that any provisions are not violated..
hi sir, in contract which consist of single promise and simulatenous performance,for eg... "A" offers reward for anyone who finds his watch he will give 500rupees. "B" comes to know about this and finds the lost watch and return it to "A". in this case "A" is promisor and "B" is promisee. so according to definition of consideration as per 2(d) "when at the desire of promisor, the promisee or any other person has done or abstained from, or does or abstains from or promises to do to to abstain from doing something, such an act, absitenance or promise, is known as consideration for the promise",... so if we look at the last word consideration is for promise.. so in the above example it is "A" who gives promise to "B" so what "A"(promisor) would be receiving would be consideration as per 2(d).. but since "B" has given performance and not any promise so what "B: would be getting i.e.500 would not be consideration as "B: is promisee and not promisor and has not made any promise and hence as per 2(D) what he receives is not consideration.... but if we understand in layman terms about contract, both the parties should receive consideration in return . but "B:" is not receiving any consideration as per 2(D).. so plz could you explain that is money received by "B" is consideration or not and if it is plz expalin
Requirement of Maintenance of books of Account for an assessee carrying on Income from Commission Turnover above 2.5 lacs & another assessee having Income from Speculative Activity Rs. 6485/-
ALL PRODUCT 6 DIGIT HSN CODE BY LPG GAS DISTRIBUTOR
Sir,
It assess maximum amount limit personal drawings one finicial year any limit prescribed as per it act.
If a company sells goods to a party inclusive of GST on credit and after sometime buyer refused to pay money for the goods purchased, how can a company record such entry in books and what are the implication of GST on this transaction.
Thanks in Advance.
Hi Guys,
Just a quick query about DTAA. My company is rendering management consulting services to Gulf based clients. From the last 10-12 months, these clients started deducting 5% withholding tax / TDS as per their countries' norms on any payment to international management consultants.
Since, these companies only have my company's basic details, such as Name, CIN, address (they don't have Pan and tan deatils). How can we claim the benefit of these tax deductions? Also, what sort of document they provide to me as a proof of deductions. Please help.
Thanks!
How to change the login id of new PTRC No. obtained in Maharashtra as the new login id is the Pan No. of the applicant.
Hi
What would be treatment of optionally convertible debentures at the option of Issuer as per Ind AS?
Also how would these be treated for calculation of Diluted EPS if the conversion is based on NAV of shares of the company at the end of duration of debenture?
Regards
I am paid of Rs 70000 as advance payment as professional fees Dated :- 11/05/2021. (partly payment)
does it required to deduct & pay in this month TDS?
Certification Course on GSTR-3B Reconciliation with GSTR-2B through AI Tools
TRUST use of GENERAL CORPUS FUND