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Sec 40a(3) in case of trust

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 May 2013 Payments exceeding 20000 in cash in case of trust are disallowed?
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CA Sourabh Agarwal

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CA Sourabh Agarwal (Expert)
16 May 2013 If trust is carrying on Business then it is certainly covered.
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Querist : Anonymous

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Querist : Anonymous (Querist)
16 May 2013 Thanks sir....that means if trust has no income/loss under income from business & profession then not covered....also tds provisions are in the same line i.e only if carrying business then only liable to deduct tds on salary and vendor payments...
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CA Sourabh Agarwal

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CA Sourabh Agarwal (Expert)
16 May 2013 No, TDS provisions are not on same rules. Under which heads you are making TDS payments.
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Guest

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Guest (Expert)
16 May 2013 Normally trust do not carry their for profit motive, or under business and profession.
hence disallowance under business are not applicable to the trust
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