Would like to know if building fund accumulated for the trust can be used for long term lease arrangement instead of purchase of property for 10years as the fund is insufficient to allow a purchase of property suitable to meet the objectives of trust.
Accumulated Funds: 50 Lacs
Cost of property: 100 Lacs
Lease per month: 40000
Can the trust go for lease option instead of purchase of property?
CAclubindia
