|Question And Answer|
|Answered by:||Advocate Shashi Ashok Bekal|
|Tags:||Trust, unrealised income|
|Date:||March 30, 2023|
Trust regd u/s 12A has not recd huge fees/rent till 31st March.
- Will this be counted as income for purpose of spending 85% ? any form ?
- how long unrealised income be excluded from spending 85% ? any form ?
- can trust opt for cash system of accounting instead
Trust can make an application under Form 9A (Rule 17 of Income-tax Rules, 1962) stating that the income is not received as per section 11(1)(2) (i) of the Act and the same will be treated as applied income.