A company has formed an Employee Gratuity Trust (Trust) in September 2016 and has maintained fund with LIC. The necessary application for obtaining approval of the Trust is filed with CCIT in August 2017, but the same is not approved (reasons unknown) till date. The Trust has earned interest income of approx 45000 in FY 2016-17. Would this income be taxable or not taxable for FY 2016-17 ? Under which section? Which ITR to be filed for this year?
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