Donation out of india
This query is : Resolved
12 July 2011
Dear All,
my query is can a trustee purchase 5000 euro in cash in india to donate the same outside the india for example purchase 5000 euro in jaipur and donate the same in england.
can a trust do this?
my query is can a trustee purchase 5000 euro in cash in india to donate the same outside the india for example purchase 5000 euro in jaipur and donate the same in england.
can a trust do this?
CA. Anuj Gupta
(Expert)
13 July 2011
No, Income Tax Act doesn't permit the same.
Anuj
0-9810106211
Anuj
0-9810106211
14 July 2011
CA Anuj Gupta is right.
To clear your worries Ankur I would like to add. This is not black money in Euro but are fake currency. How do not go in those details. Sleep well.
My Regards to All.
Dr. Imran Ahmad
To clear your worries Ankur I would like to add. This is not black money in Euro but are fake currency. How do not go in those details. Sleep well.
My Regards to All.
Dr. Imran Ahmad
CA. Anuj Gupta
(Expert)
14 July 2011
If the trustee in his personal capacity wishes to transfer such money then he is allowed provided he is transferring through banking channels.
However there shall be issues if transferred through trust.
Anuj
0-9810106211
However there shall be issues if transferred through trust.
Anuj
0-9810106211
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