13 July 2018
INCOME OF A TRUST REGISTERED U/S 12A IS RS 20 LAKHS. TRUST HAS TO UTILIZE 85% OF THE INCOME ( 17LAKHS) FOR ITS OBJECTS. HOWEVER TRUST UTILISED RS 27 LAKHS ( EXCESS BY 10 LAKHS) DURING THE ACCOUNTING YEAR. NOW CAN THE EXCESS UTILISATION BE CARRIED FORWARD AND SHOWED AS UITILISATION IN THE NEXT ACCOUNTING YEAR.
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