XYZ Trust (no 80G & 12AA Registration) can give loans to out side individual person (he is not trustee). Main Objective of trust is providing Education and health to poor people. So can Trust give loan to outside person?
Menu
Can trust given loans to others (other than trustee)
Replies (1)
Trust, Society and Section 8 Company can seek registration u/s 12A to claim exemption under Income Tax Act’ 1961, if certain conditions are satisfied. Section 12A deals with registration of trust and section 12AA deals with procedure for registration of trust.
The consequences of non applicability of section 11 and 12, 8tax benefits) will be such that, the trust will be assessed as association of persons.
The consequences of non applicability of section 11 and 12, 8tax benefits) will be such that, the trust will be assessed as association of persons.
Recent Topics :
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
- FAST DS 2026
- Does AIS GST Purchase aggregate GSTR-2B expenses?
- Form 26A - System has encountered some technical p
- Tool to convert GST invoice PDFs into Excel —
- Revised or rectification or leave it?
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
Related Topics :
CAclubindia
