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trust , income tax
incase of religious or charitable trust... is an expenses allowable as deduction if it has been not actually paid but has been debited to income and expenditure account and shown in the liability side of balance sheet as creditors... will this be called as an expense applied for charitable purposes for the same previuos year under section 11 and 12 ????
Replies (2)
YES It will allowed.
no only the actual payment made shall be allowed
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