Investments u/s 11(5)
This query is : Resolved
20 September 2021
Dear Experts
As per section 11(5) specifying the modes of investment for a Trust it says " Deposit in any account with a Scheduled Bank" . Does that mean it can be any kind of account ( Savings /Current Account) or it has to be only a Fixed Deposit account?
Please clarify
As per section 11(5) specifying the modes of investment for a Trust it says " Deposit in any account with a Scheduled Bank" . Does that mean it can be any kind of account ( Savings /Current Account) or it has to be only a Fixed Deposit account?
Please clarify
20 September 2021
If the sum is for investment purpose, then naturally it should be in FDs, which may be linked with savings account. The importance here is of 'scheduled bank/s'
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