sec 10(23C ) of income tax act
Amit Chauhan (3 Points)
04 September 2019
what is the difference between fund,trust or institution mentioned in sec 10(23C)
2 Replies
Deepali
(CA)
(35 Points)
Replied 11 September 2019
Trust is a legal entity in which a trustee holds the rights to manage the assets of the trustor for the benefit of either the trustor or another beneficiary.
Fund is a pool of money that is allocated for specific purpose. Funds can be created using any form of legal entity like a company or even a trust.
Institution simply means an organization. It can also take any form of legal entity.
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