Cash laon by trustree repayable from donation receipts
This query is : Resolved
RAKESH SHAH
(Querist)
09 August 2013
CAN TRUSTEE GIVE CASH LOAN OF RS 100000 WHICH WILL BE REPAYABLE LATER ON FROM DONATION RECEIPTS. WHETHER SUCH LOAN ATTARACT PROVISION OF INCOME TAX ACT SECTION 269SS 269T
PLEASE ALSO GIVE GUIDENCE IF ANY PERSON WANT FORM TRUST FOR CHARITABLE PURPOSE IN MAHARASHTRA UNDER WHICH ACT HE NEED TO REGISTER?
UNDER BOMBAY TRUST ACT OR
UNDER INDIAN TRUST ACT
PLEASE ALSO GIVE GUIDENCE IF ANY PERSON WANT FORM TRUST FOR CHARITABLE PURPOSE IN MAHARASHTRA UNDER WHICH ACT HE NEED TO REGISTER?
UNDER BOMBAY TRUST ACT OR
UNDER INDIAN TRUST ACT
09 August 2013
sec 269SS is applicable if loan is given in cash exceeding 20,000 in any Financial year.
it register under both acts as it serves the puprose.
it register under both acts as it serves the puprose.
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