Trust Querry-11(1)a

This query is : Resolved

rashmi poojary (Querist)
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07 February 2009 Hi,

just wanted to know that 15% kept aside in case of Trust,whether we spend or apply it in future or it should be permanantly accumulated .Please provide some case laws

Regards

Rashmi

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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07 February 2009 If you have set aprat for any specific purpose by getting time from the Assessing office then you have to spend before that year otherwise it will trated as income of that year where the time expired.

If it is a genaral accumulation then you can carryover permanently also.

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