Director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 June 2013
Sir,
Can a memeber/trustee of a charitable trust be a director in a company as a representative of that trust??
If so, the trust can invest money in that company???
Thank you.
Madam,
A public charitable trust established under Bombay Public Trust Act, in Gujarat, whose main object is educational activities , running schools . Now the said trust is interested to become promoter of a company to be formed, in representative capacity to invest funds. The object of the said company shall remain to purchase a land and to construct the building on the same and the said building will be given on lease to the said public charitable trust for running school.
Can a memeber/trustee of a charitable trust be a director in a company as a representative of that trust??
If so, the trust can invest money in that company???
Thank you.
Madam,
A public charitable trust established under Bombay Public Trust Act, in Gujarat, whose main object is educational activities , running schools . Now the said trust is interested to become promoter of a company to be formed, in representative capacity to invest funds. The object of the said company shall remain to purchase a land and to construct the building on the same and the said building will be given on lease to the said public charitable trust for running school.
11 June 2013
What is the nature of the trust. Public or private discretionary. What are the objects of the trust? Does the moa and aoa contain clauses for investment
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
