Trust
This query is : Resolved
06 February 2018
Sir,
There are two trusts who are having the same objects. but one is financially well and sound and another is weak in both. so first trust wants to transfer the fund or money to second trust to meet out the difficulty. is it permissible in indian trusts act and income act? which section of the Trust act deals with it?
There are two trusts who are having the same objects. but one is financially well and sound and another is weak in both. so first trust wants to transfer the fund or money to second trust to meet out the difficulty. is it permissible in indian trusts act and income act? which section of the Trust act deals with it?
06 February 2018
Income tax Act permits such donation when both the trust are registered under 12a of Income tax Act. Trust rules should permit such donation. Amendment of rules is possible to make such donation.
06 February 2018
yes you can give donation even objective are different Donation given by one public charitable trust to another public charitable trust is permissible in section 11 as application of income and said payment is not in violation of section 13(1)(c) because payment is not made for benefit of any person either directly or indirectly referred to in section 13(3)
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