Corpus fund receipt
This query is : Resolved
MANJUNATHA M.R
(Querist)
17 November 2014
A trust is formed in which the trustee donate Rs. 30 lacs in corpus fund and the said amount is kept by the trus in fixed deposits and the interest earned from the deposits is used for the charitable purpose. My querry are as following Will this 30 lacs be taxable to the trust Will the trusttee get the deduction under section 80G for the amount of 30 lac donated. Thanks in Advance
Amol S Joglekar
(Expert)
17 November 2014
Why did the TRUSTEE donate?
Anyway, the donations are regarded as income of the trust.
If the trust is having 80G certificate, then Donor can get the deduction u/s 80G.
Anyway, the donations are regarded as income of the trust.
If the trust is having 80G certificate, then Donor can get the deduction u/s 80G.
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