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 ?

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4 Replies

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 14 August 2018

YES IT IS AS GOOD AS APPPLICATION OF FUNDS

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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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