Section 40a(2)(b)
This query is : Resolved
Guest
Guest
(Expert)
21 May 2013
NO, Trust don't fall under this section, as the activities carried by the trust are not concerned with profit making.
But it doesn't mean the trust can make any payment.
The trust must run its activities and satisfied all requirements specified u/s 11 and 12.
One of section 13(3)which mention specified persons to whom no payment can be made.
But it doesn't mean the trust can make any payment.
The trust must run its activities and satisfied all requirements specified u/s 11 and 12.
One of section 13(3)which mention specified persons to whom no payment can be made.
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