01 December 2010
Whether receipt of Donation in Kind like jewellwery etc. by a registered trust can be treated as INCOME u/s 2(24) of the Income Tax Act,1961.
01 December 2010
can u cite a case law related to it...... But how can dat be as 2 (24)(iia) relates to voluntary contribution...which includes only money and not other assets.... reply.....
02 December 2010
Income doesn,t mean "money" only. If other assets got some monetary value then their monetary valuation has to be taken into account. For Example- Perquisites are not money but certain perquisites are taxed on valuation basis.
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