Dear Members,
We have open a Employees Gratuity Trust and contribute every year as per accounting standard. We have invest Trust Income in various mutual fund and received dividend. Can these income is taxable under section 2(15) Trust Act.
Thanks
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Charitable Trust under section 2(15)
Replies (1)
Tust of Income can be invested only in the schemes prescibed u/s 11(5) of the IT Act, 1961. Mutual Fund (only units of Unit Trust of India) is covered here. So, you can't invest in other Funds.
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