TRUST REGISTERED U/S 12A

This query is : Resolved

Hemkumar (Querist)
Follow

02 October 2019 Trust registered under section 12A paying rent to trustee & salary to wife of trustee whether we need to report the same in form 10B ?? if yes where ??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

03 October 2019 Yes, report here.
II. APPLICATION OR USE OF INCOME OR PROPERTY FOR THE BENEFIT OF PERSONS REFERRED
TO IN SECTION 13(3)

Hemkumar

Hemkumar (Querist)
Follow

04 October 2019 Sir, its genuine and reasonable transaction rent is being paid for property which is being used by the trust though we need to report?

Hemkumar

Hemkumar (Querist)
Follow

04 October 2019 Sir, its genuine and reasonable transaction rent is being paid for property which is being used by the trust though we need to report?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

04 October 2019 As per the provisions you need to report let them prove it as reasonable and genuine before AO.