Application for trust purpose
This query is : Open
12 May 2013
One registered trust has only interest income and no donation.It donates amounts to another trust having the same object as the donor trust,out of that year's interest income. Is this treated as application for trust purpose?
It also make donation to another trust with same objects, out of the fund accumulated/set apart in the earlier years. Can this be considered as application out of the special fund and claim tax benefits?
It also make donation to another trust with same objects, out of the fund accumulated/set apart in the earlier years. Can this be considered as application out of the special fund and claim tax benefits?
Guest
Guest
(Expert)
12 May 2013
Donations given by trusts are treated as application for trust purpose.
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