Can a Registered Charitable Trust under Income Tax Act obtain loan from private parties ?
Please substantiate your answer with case law , if any .
Menu
Charitable trust and loan from private parties
Replies (1)
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.
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
