Donations received by a Trust
This query is : Resolved
03 April 2010
Can any body clarify
(a) whether the Donation received by a TRUST is a business income for the Trust.
(b) Under which head of income should the interest on bank deposits received by a trust be shown.
(a) whether the Donation received by a TRUST is a business income for the Trust.
(b) Under which head of income should the interest on bank deposits received by a trust be shown.
04 April 2010
Donation income is business income. interst on bank fd is other sources.
04 April 2010
Int. on fd can also be considered as business income if the fd is out of trust funds
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