Income derived from property held under trust
This query is : Resolved
26 March 2018
Is Loan Granted by a
(1) Bank
(2) Financial Institutions or
(3) Private Institutions
during the previous year towards the fulfillment of the objectives of the public charitable trust be treated as income /borrowings/loan.
Further: Is repayment of Loan be treated as expenditure/ deployment of funds.
(1) Bank
(2) Financial Institutions or
(3) Private Institutions
during the previous year towards the fulfillment of the objectives of the public charitable trust be treated as income /borrowings/loan.
Further: Is repayment of Loan be treated as expenditure/ deployment of funds.
CA R SEETHARAMAN
(Expert)
27 March 2018
Such borrowing will be treated as borrowing only.
Repayment of loan will not be considered as expenditure/application of funds.
Repayment of loan will not be considered as expenditure/application of funds.
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