Sec 40A(3)

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Yogesh Chandra Pant (Querist)
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09 February 2009 Can the disallowance u/s 40A(3) attract to a trust which is showing its income as income from other source? The trust is running educational institution.

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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09 February 2009 There is no exemption for the trust from 40A(3). that sections too applicable for the charitable and religious trust also.

Yogesh Chandra Pant

Yogesh Chandra Pant (Querist)
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09 February 2009 Sir as i have already mentioned income from college is shown as income from other sources. So does 40A(3) still apply?

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CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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09 February 2009 40A(3) deals with expenditure and irrespective of the head under which you are showing income, if you want to claim the expenditure then 40A(3) will apply.