Dear friends,
I need to know the rules, regulations and exemtions for a trust which is registered with the sub-registrar but is not registered under the secs 80G or 10 or any other exemption secs..
What will happen to the income received by way of donations, also to the donation paid by the trust? If the trust have an FD with a bank, how to treat the interest accrued?
Is the net income over expenditure of the trust exempt?
I need all the answers in the view of the trust and not the donors' point of view.
Regards,
Ur friend.
CAclubindia
