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Sec 40A(3)

This query is : Resolved 
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(Querist)
09 February 2009 Can the disallowance u/s 40A(3) attract to a trust which is showing its income as income from other source? The trust is running educational institution.
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
09 February 2009 There is no exemption for the trust from 40A(3). that sections too applicable for the charitable and religious trust also.
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Yogesh Chandra Pant

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Yogesh Chandra Pant (Querist)
09 February 2009 Sir as i have already mentioned income from college is shown as income from other sources. So does 40A(3) still apply?
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
09 February 2009 40A(3) deals with expenditure and irrespective of the head under which you are showing income, if you want to claim the expenditure then 40A(3) will apply.
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