If Trust makes a profit of Rs.60 lakh in a financial year 2015-16, Trust will have to pay the Income Tax. To avoid this is it possible to create a Reserve Fund namely , Staff Welfare Fund for Rs.60 lakh to avoid payment of Income Tax.
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Creation of welfare fund to avoid tax implications
Replies (3)
Not advisable, but check the trust deed for any provisions or its intention.
Thanks sir.
Sir,
Is it possible to book TDS in a firm without TAN No and remit the TDS and File the quarterly Return using the TAN of another company or firm
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