Trust
Abhijit (CA ) (250 Points)
14 August 2018
Whether Donation to another trust (other than corpus of fund of that trust) registered under 12AA is treated as application of Income ?
4 Replies
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 14 August 2018
YES IT IS AS GOOD AS APPPLICATION OF FUNDS
Abhijit
(CA )
(250 Points)
Replied 14 August 2018
And if trust donated to corpus of fund of another trust ?
Abhishek5g
(CA)
(167 Points)
Replied 15 August 2018
in 2nd case it is not treated as application of income but in first case it will be treated
RAMESHBHAI PATEL
(24 Points)
Replied 15 August 2018
if donation given from corpus fund and debit directly in b.sheet . Any restriction as per it act for above transection.
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