CA Final/Inter Fast track classes available for May 20 attempt. Call: 1800-3000-0505

Education Trust approved u/s 10(23C)(vi)

Ours is and educational trust approved u/s 10(23c)(vi). - in this case trust can accumulate any amount over and above 15% and to be utilized within 5 years. The query is can trust utilize the accumulated amount 1st for education purpose and set apart the excess amount for accumulation to be used in next 5 years? i.e in a year the trust has accumulated Rs 5,00,000 and carried forward to use within 5 coming years. In the next year the trust has say 50 lakh receipts and used 45 lakhs. In this it can carry forward 5 lakh but can it use last years' brought forward accumulated amount of Rs 5 lakh 1st and accumulate Rs 10 lakh u/s 11(2) for utilizing in next 5 years? experts please held by advising on this issue as soon as possible

You need to be the querist or approved CAclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

CA Learning