10 August 2024
Case 1: A non-profit education trust, which invests the earned amount back into the education trust. Will there be income tax on the earnings of the trust.
Case 2: The same trust non-profit education trust, rents one of the buildings. Now, the trust have 2 sources of income A- Education earnings B- Rentals of the Building.
Will there be income tax on (A) only, (B) only, or (A and B) both?
What will be the category of the trust in both cases. (Business trust or non profit trust).
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