Trust Query

Shreyas Bhatt (Service) (45 Points)

21 July 2009  

If trust is not able to utilise accumulated fund before completion of time period of 5years what will be the consequences and is it necessary to make a proviosion for tax in books of accounts in the current year? If we make a proviosion for tax in books of accounts the profit will convert into loss is it right than to make a provision for tax?