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Whether Donation to another trust (other than corpus of fund of that trust) registered under 12AA is treated as application of Income ?
Replies (4)
YES IT IS AS GOOD AS APPPLICATION OF FUNDS
And if trust donated to corpus of fund of another trust ?
in 2nd case it is not treated as application of income but in first case it will be treated
if donation given from corpus fund and debit directly in b.sheet . Any restriction as per it act for above transection.
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