Respected Experts and Dear Friends,

recently i am not under any principal(not under training), but i have completed my 2 years of training. because of some reasons i am not able to start my training for next 8 to 10 months.

i want to know can i appear exam to be held in june 10 for PCC 2nd group ? is it necessary to go under principal for appearing exam, i am asking because in exam form (omr sheet) require signature of principal !!!!!

please guide me as soon as possible. !!

thanks

Sir,
I have few querries on Trust for the benefit of minors.I would be highly grateful if you could enlighten me on these issues:-
The issues which come to mind in the case of Trust for the benefit of minors:-
1. Is the formation of such a trust approved by the Income Tax department?
2. In the case of professionals, can they transfer fees from certain clients to the trust? Can this be stated in the trust deed also that, fees from such & such clients will be transferred to the trust? (For eg: - in the case of doctors, they are attached with many industries, and get certain amount from those industries for treating their staff, can such income be transferred to the trusts?)
3. In case the fee from certain clients is transferred to such a trust, and such income is subject to TDS, how can the trust claim TDS refund or take benefit of such TDS in its return? As the TDS certificate will contain name of the client and not the name of trust.
4. If such transfer of income is not possible, what kind of incomes can be transferred to such a trust?
5. The trust will charged at the slab rates of the individual, because none of the beneficiary has income charged at the MMR. Am I correct?
6. Can the trust take advantage of deductions u/s 80 C? If yes, how can the trust pay the LIC premiums, or invest in certain Mutual Funds eligible for 80 C.
7. Can only one trust be formed by one parent for all their children, or separate trusts for different children can be formed?
8. Can mother and father both, as trustees, transfer certain income from their return to such a trust?

CA Shalini Prakash

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