Corpus fund
This query is : Resolved
13 June 2011
A trust is not registered u/s 12A and received some amount as Corpus during the year and also spend some amount on constucting building i.e. building under construction.
Now I want to know the effect and treatment on taxability of CORPUS and Building under Construction.
Now I want to know the effect and treatment on taxability of CORPUS and Building under Construction.
13 June 2011
Contributions received with specific direction from donee that it will form part of Corpus is not taxable.
Building can be shown as Capital WIP under Fixed Asset
Building can be shown as Capital WIP under Fixed Asset
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