Hello members!
In case of a trust whose only source of income is cumulative interest on Fixed Deposits, how will they claim the exemption requirement of 85% of their funds to be put to use for charitable activities?
The interest will be credited to their account only on maturity, so they can't utilize it before maturity.
Any help regarding the same would be appreciated.
Trust - Interest income
Sreekanth (79 Points)
24 September 2022