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Income of a trust

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55 Points Posted on 10 May 2007
A trust which is running school have deposit surplus money in bank FDR's. The AO wants to tax the interest income on FDR. If there is any case law in this matter?  
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On 10 May 2007 at 16:20 Report
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16 Points Posted on 10 May 2007
The assessing officer must be convinced that the school is a non profit organisation and the fund in FDR is to be used for the school purpose and the trust income is not taxable as the organisation is non profit organisation which is run by the trust for the betterment of general public.
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On 10 May 2007 at 16:20
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16 Points Posted on 10 May 2007
The assessing officer must be convinced that the school is a non profit organisation and the fund in FDR is to be used for the school purpose and the trust income is not taxable as the organisation is non profit organisation which is run by the trust for the betterment of general public.
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On 10 May 2007 at 16:20
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55 Points Posted on 10 May 2007
Thanks, Can you quote any judgement in this regard.
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On 10 May 2007 at 16:20


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