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Corpus fund

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 October 2011 Whether corpus fund received for redevelopment of property by an NRI as member of the society, is taxable or not.
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CA VISHAL RANA,CS,B.Com,AMFI

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CA VISHAL RANA,CS,B.Com,AMFI (Expert)
25 October 2011 Corpus donation recived from Donor with specific direction..exempt in sec 11...If donation recievd by the NRI member in the name of Trust then it will not form part of income of trust...it will be exempt donation in tha hands of trust

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