running a hostel by trust will be donation or income from ho
This query is : Resolved
17 December 2009
Sir,
There is one charitable trust running hostel for blind students at concessional rate. whether such receiving hostel fees can be treated as donation received in normal course of activities of such trust? or whether it will be accounted as 'Income from House Property'
There is one charitable trust running hostel for blind students at concessional rate. whether such receiving hostel fees can be treated as donation received in normal course of activities of such trust? or whether it will be accounted as 'Income from House Property'
17 December 2009
As per my opinion, its an Income from House Property. As donation is given without any consideration whereas the concessional fees is being paid by the hostler in liew of services of hostel used.
CS U S Sharda
CS U S Sharda
23 December 2009
Thank you sir
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