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Donations received by a Trust

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(Querist)
03 April 2010 Can any body clarify
(a) whether the Donation received by a TRUST is a business income for the Trust.
(b) Under which head of income should the interest on bank deposits received by a trust be shown.
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Rasesh

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Rasesh (Expert)
04 April 2010 Donation income is business income. interst on bank fd is other sources.
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Rasesh

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Rasesh (Expert)
04 April 2010 Int. on fd can also be considered as business income if the fd is out of trust funds
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