Loan to Trust
Anurag Singh (student) (27 Points)
19 May 2021
Can a trust take loan for meeting it's objective? Can you provide any reference material supporting the same.
4 Replies
i am Kashif
(372 Points)
Replied 19 May 2021
Charitable trust take a secured or unsecured loan from its managing trustee or trustee as per trust act or income tax act
yes they can and cant be take interest higer than other unsecured loans in trust .
yes they can and cant be take interest higer than other unsecured loans in trust .
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 19 May 2021
Yes trust can takes loan
veerendar singh
(tax consultant)
(3301 Points)
Replied 19 May 2021
There is nothing provided in the law which stops trust from taking loans.
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