rent recd can be taken in Balance sheet for Trust
This query is : Resolved
18 October 2008
gUD EVENING TO ALL,
IAM WRKING IN A AYURVEDIC TRUST. LAST YEAR OUR TRUST HAS RECD 180000 TWDS RENT FROM PARTY FOR WHICH THEY HAVE DEDUCTED TDS AND GIVEN CERTIFCATE FOR THAT. SOME PEOPLE SAYING THAT IT CANNOT BE TAKEN FOR TRUST . Pls advise.
IAM WRKING IN A AYURVEDIC TRUST. LAST YEAR OUR TRUST HAS RECD 180000 TWDS RENT FROM PARTY FOR WHICH THEY HAVE DEDUCTED TDS AND GIVEN CERTIFCATE FOR THAT. SOME PEOPLE SAYING THAT IT CANNOT BE TAKEN FOR TRUST . Pls advise.
20 October 2008
Any person (Except Individual /HUF )who is responsible for paying to a resident any income by way of rent will have to deduct tax.
Hence in your case details of the tenant has to be ascertained
Hence in your case details of the tenant has to be ascertained
31 October 2008
Yes I agree with Mr. Bharatkumar
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