Explanation to Sec 11(1) determining the Amount of Application Under Clause (a) and (b)
This query is : Resolved
15 August 2024
Dear we are running a gaushala and having a temple in it. We have received corpus donation with specific direction for construction of Building with out any bifurcation whether for temple building or cattle sheeds. In the current year we have used the amount for constrution of cattel sheed for Rs 50 lacs . the same was used by breaking the FDR made out of corpus funds. now my query is will the application be considered in the year in which i again make FDR or in this year in which we have constructed the shed.
Sir i also want to know whether we have to transfer the corpus fund which we are having a seperate head in balance sheet to common capital fund for the amount of construction made.
Sir i also want to know whether we have to transfer the corpus fund which we are having a seperate head in balance sheet to common capital fund for the amount of construction made.
18 August 2024
Application of funds will be considered in the year of contraction of shed.
Transfer it to common capital fund.
Transfer it to common capital fund.
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