Sec 40a(3) in case of trust

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Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2013 Payments exceeding 20000 in cash in case of trust are disallowed?

CA Sourabh Agarwal

CA Sourabh Agarwal (Expert)
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16 May 2013 If trust is carrying on Business then it is certainly covered.

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2013 Thanks sir....that means if trust has no income/loss under income from business & profession then not covered....also tds provisions are in the same line i.e only if carrying business then only liable to deduct tds on salary and vendor payments...

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CA Sourabh Agarwal

CA Sourabh Agarwal (Expert)
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16 May 2013 No, TDS provisions are not on same rules. Under which heads you are making TDS payments.

Guest

Guest (Expert)

16 May 2013 Normally trust do not carry their for profit motive, or under business and profession.
hence disallowance under business are not applicable to the trust