Salary to trustees
This query is : Open
R.KANDASUBRAMANIAN
(Querist)
06 November 2012
T Trust runs educational institutions and the Trust got Registered U/s 12A & 80G.
Whether the Trustees are eligible to receive remuneration for their services rendered to the Trust
T Trust runs educational institutions and the Trust got Registered U/s 12A & 80G.
Whether the Trustees are eligible to receive remuneration for their services rendered to the Trust
07 November 2012
The payments to trustees are subject matter of clauses contained in Trust Deed. So do what Trust Deed says.
If such payments are of permanent in nature then make a mention of it in Trust Deed by way of amendment, under intimation to Authorities.
If for a while then the amount charged should not fall above market rate. Better you get some rates from other professionals as what they would have charged for the services. Trustee can charge even less than the lowest offer.
contact@vkbajaj.co.in
If such payments are of permanent in nature then make a mention of it in Trust Deed by way of amendment, under intimation to Authorities.
If for a while then the amount charged should not fall above market rate. Better you get some rates from other professionals as what they would have charged for the services. Trustee can charge even less than the lowest offer.
contact@vkbajaj.co.in
Gayathri Devi
(Expert)
07 November 2012
the trustees are not supposed to receivee the remuneration from the trust.
07 November 2012
Ms Gayathri no doubt trustee are not supposed to get any remuneration from the trust. In some special cases it is done. Suppose a group of Doctors resign from their jobs and join hands for a noble cause to run a economy clinic or lab by forming a trust. In such case all Doctors will get remuneration but on lowest side.
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