Sonam Bidasaria (CA) (770 Points)
31 March 2012To all professionals.
One of the assessee company wants to form a trust for providing medical incentivesto its employees and Sec 40(a)(iv) reads as under :
" any payment to a provident or other fund established for the benefit of employees of the assessee, unless the assessee has made effective arrangements to secure that tax shall be deducted at source from any payments made from the fund which are chargeable to tax under the head “Salaries”"
My query is regarding how to form this trust?
Sonam Bidasaria
(CA)
(770 Points)
Replied 03 April 2012
Hello friends.
I have got the answer, that such welfare funds has to be made under Rule 16C read with Sec 10(23AAA).
Now, my question is, whether anyone can provide me the format of trust deed for such employee welfare fund.?
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