Salary paid to the trustee, without authorizing the trust deed, whether the same is available as app

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Chartered Accountant
104 Points Posted on 09 November 2018

We have paid the salary to the trustee without authorizing the trust deed, whether the same is allowed as application of income. If yes, is there any caselaw which can substantiate the same. If no also please provide if any case law is available.

 

Thanks in advance

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On 09 November 2018 at 19:47 Report
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Student CA Final
2880 Points Posted on 09 November 2018
I think That would be taken as Application of Income for Trust even if it is not mentioned in trust deed. But it must be in compliance with 40A(2).

Thanks.
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On 09 November 2018 at 21:24

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