Corpus Fund of Chartiable Institution
This query is : Resolved
28 July 2007
Public Charitable instt, running educational instt, Donation received with specific direction towards Corpus Fund of trust, can such fund be used for revenue exp such as salary, conveyance, printing, repair & maintenace, etc.,
29 July 2007
The said donation can be used for any of the main objects of the trust. However, as a general practice, the asid sums are either used for capital expenditure or for investments whose income shall aid the trust in carrying out the objects. This is so bacause then the Corpus generally remains intact. Otherwise too a donation may be received for application towards a specific purpose that woul;d not be qualifying for addition to the corpus.
08 August 2007
hello!!
A Donation received with specific direction towards Corpus Fund of trust, can not be as such used for revenue exp such as salary, conveyance, printing, repair & maintenance, etc.,
Also because such funds are mainly used for capital expenditure or specific expenditure and are subject to terms n conditions...
A Donation received with specific direction towards Corpus Fund of trust, can not be as such used for revenue exp such as salary, conveyance, printing, repair & maintenance, etc.,
Also because such funds are mainly used for capital expenditure or specific expenditure and are subject to terms n conditions...
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Import license renewal
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
