TRUST IS RECEIVED ONLY FD INTEREST INCOME OF RS. 20 LAKH. WHETHER IT IS COMPULSORY TO SPEND 85% OF FD INTEREST TO CLAIM 15% EXEMPTION TO TRUST.
OR FD INTEREST NOT INCLUDE IN INCOME OF TRUST..
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Trust fd intrest income
Replies (3)
Trust has to spend 85% income on the objects of the trust.
If Trust does not spend then Trust is allowed to carry forward for next years provided Trust files a prescribed form online to ITax CPC for intimation of it's intention to carry forward such unspent amount.
If Trust does not spend then Trust is allowed to carry forward for next years provided Trust files a prescribed form online to ITax CPC for intimation of it's intention to carry forward such unspent amount.
what is the prescribed form if trust reg u/s 12AA wants to spend in next year
@ Pranav
Form No 10
Form No 10
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