Can a Registered Charitable Trust under Income Tax Act obtain loan from private parties ?
Please substantiate your answer with case law , if any .
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Charitable trust and loan from private parties
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Hii Sir, Trusts registered u/s 12A can accept loans from private parties through bank. Accepted loan should be used duly for the purpose for which the trust was formed. Proper documentation regarding the acceptance, repayment, interest rates and utilization of loan amount are mandatory.
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