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Charitable trust

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 July 2014 I WOULD LIKE TO KNOW IS IT COMPULSORY THAT CASH HAS TO BE KEPT IN BANK BY CHARITABLE TRUST OR CAN BE KEPT AT THE OFFICE ALSO

OR IT CAN BE GIVEN TO THIRTY PARTY TO FETCH MORE INTREST ON IT

SAY CASH OF 15 LAKH
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
19 July 2014 while petty cash can be kept as cash-in-hand. however, unutilised funds have to kept in compliance with section 11(5) wherein cash in hand is not a prescribed method.
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Querist : Anonymous

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Querist : Anonymous (Querist)
21 July 2014 NO IT IS JUST CASH IN HAND NOT ANY CORPUS FUNDS SO CAN BE KEPT
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