29 August 2023
We are group of few people working in govt/private sector and will retire from our service after 20 years. After our retirement we wants to contribute our skills and expertise towards social development and for the same, we want to form a Society/Trust/Section 8 Company and want to contribute/receive donation from members/other individuals and same will be accumulated for about 20 years to create a fund by investing is some of the mutual fund schemes to start the charity work in the field of education/rural development. Kindly explain which option will be better which allow us to achieve our objectives.
29 August 2023
Sir, This contribution as corpus can be monthly from several members or not? This will be treated as donation or as contribution. Whether this contribution is allowed from trust members only or anyone can contribute/donate towards corpus . Is there is any limit towards the members in trust who can contribute? Please elaborate. Sir, Myself working in a Navratna PSU, may you please share your contact details so that I can discuss with you personally in this regards.
29 August 2023
The Finance Bill, 2022 proposes to grant an option to the trusts or institutions referred to in section 10(23C)(v) and 11 to treat the voluntary contributions as corpus donations subject to the prescribed conditions. I am a retired ED from central PSU. I worked as a CFO in a charitable trust. Take a second opinion also. My contact number it's not allowing. Email id rseeraman@gmail.com.
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