Dear sirs,
Is the remuneration paid to the (charitable) trustees are allowable expenses under the Income-tax act, because so many trustees are being as an working trustee for the trust on his own time, they are expecting on his actual cost of working for the trust.(not benefit or profit)
Pls.clarify according to the incometax act .
Since Trust has to work on the objective for which it is registered and any deviation from the same is clear violation of approvals. However to accomplish the objective reasonable expenses are allowed and soley left to the assessing authority.
Any deviation in the objective will be eligible for cancellation.
CAclubindia
