Rent to trustee

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404 Points Posted on 29 July 2023
A Mumbai based trust runs an education institution from the premises of trustees. Can the trustee take rent from trust? What are the implications under income tax as well as The Bombay Trust Act?
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On 29 July 2023 at 18:03 Report
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This discussion explores whether a trustee can charge rent to a trust that operates an educational institution from property owned by the trustee. It addresses the legal and tax implications under both The Bombay Trust Act and Indian Income Tax laws, noting that charging rent is permissible for specific purposes like conducting a school.

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28271 Points Posted on 04 August 2023
Yes , but for which purpose..
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On 04 August 2023 at 07:58
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404 Points Posted on 04 August 2023
For conducting school in the premises owned by trustee.
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On 04 August 2023 at 09:14
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Profession
28271 Points Posted on 06 August 2023
Yes you can take exemptions.
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On 06 August 2023 at 19:32

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