Charitable Trust interest income exemption.
This query is : Resolved
26 September 2023
If a trust earned accrued interest on deposits but not received in the bank account. Is that interest taxable for the trust? Since that interest not actually received in the bank trust cannot apply it towards objects of the trust.
Interest income is shown on 26AS.
Interest income is shown on 26AS.
26 September 2023
Such accrued interest is not taxable.
Only on receipt taxability arise.
Only on receipt taxability arise.
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