charitable trust
This query is : Resolved
manish shah
(Querist)
04 January 2011
my clients planning to set school , as per central govt norms it has to be under PCT Public charitable trust . Amount to be invested is arounf 80 lacs . is there any way that around 60 lacs can be given by main trustee as loan to turst and loan will be paid along with bank rate interest to turstee out of profit from school activity .
Hitender Gaur
(Expert)
05 January 2011
Advise your client(Main Trustee) make a FD with Bank in his name, and get the loan from you bank in the name of trust against ther FD.
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