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Trust

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(Querist)
16 December 2010 Can Public Trust is required to get permission of Charity Comissioner to Write off Debtors or Wtire backs Creditors, if yes then under which section in Bombay Trust Act,1950?
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
16 December 2010 For Bombay Trust Act, No..But Others Views are Soliciated.

But For Income Tax Purpose, No Such Need From AO. You May Write Off Debtors Amount & Also May Take Same as Application of Income (Included in 85%)

Regards,

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