Surplus in trust
This query is : Open
16 September 2015
I have a client - trust who is having surplus of Rs 175,000 for AY 2015-16, the client has to invest in modes specified u/s 11(5) of Income Tax Act, 1961 before due date of 139(1). Now, my query is that client is in need of money in the next month and please suggest a practical flexible mode of investment ? So that client can invest and claim investment for AY 2015-16!
16 September 2015
Deposit in any account with a scheduled bank- Section 11(5)(iii). Short term time deposit may be preferred.
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16 September 2015
But Sir, client now has only Rs 1 Lakh and Rs 75,000 was already utilized for the objects of the trust.
What has to be done in this case?
What has to be done in this case?
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