sec 40A (3)
This query is : Resolved
24 February 2009
Dear Sir,
Is sec 40A(3) is applicable for the Trust? Because Sec 40A(3) is covered under Chapter IVD of the income tax Act1961. But the Trust is covered under sec 11 to 13 of the income tax Act 1961.
Please clarify at the earliest.
with regards,
R. Gurucharan.
Is sec 40A(3) is applicable for the Trust? Because Sec 40A(3) is covered under Chapter IVD of the income tax Act1961. But the Trust is covered under sec 11 to 13 of the income tax Act 1961.
Please clarify at the earliest.
with regards,
R. Gurucharan.
24 February 2009
Section 40 A(3) is applicable to trust also. Trust is getting the exemption for not paying tax as per section 11 to 13. For allowing expenses you have to follow sections related to business income
24 February 2009
sir ,
Then what is the option i have to escape the amount getting disallowed.
with regards,
R. Gurucharan.
Then what is the option i have to escape the amount getting disallowed.
with regards,
R. Gurucharan.
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