16 August 2013
MY CLIENT TRUST INCORPORATED IN 2004 AND REGISTER UNDER BOMBAY TRUST ACT BUT TILL NOT REGISTERED WITH WITH CIT AND ALSO NOT FILLED INCOME TAX RETURN.
TRUSTEES GIVES LOAN WORTH RS. 184000 AND TRUST HAVING DEFICIT/C/F LOSS 124000
THE TRUSTEES WANTS TO CONVERT LOAN IN GRANT OR EITHER PAY GRANT AND TO TAKE LOAN BAKE
MY QUERRY IS WHAT IS THE BEST WAY TO RESOVLE THE ABOVE PROBLEM AND IF TRUST IS NOT REGISTER THE CAN GET BENIFIT OF TRUST AS EXEMPT INCOME.
CAclubindia
