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)
Amit Chauhan (3 Points)
04 September 2019
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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