Exemption u/s 11 - the trust is operating buses to transport the ...

Income Tax

December 4, 2019

Exemption u/s 11 - the trust is operating buses to transport the students at free of cost. In case of breakdown, the Managing Trustee offers the vehicles of his own transport business to ferry the students - denial of exemption should only be to the extent of the income which is violative of section 13(1)(d) - The amount t be brought to tax at the maximum marginal rate.

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Exemption u/s 11 - the trust is operating buses to transport the ...

Income Tax

December 4, 2019

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