Can Trust promote a non profit organisation

Mukesh (Querist) 27 September 2010 This query is : Resolved
Can a Trust (non- charitable) promote a Non-profit organization (education institute). Both of which donot claim any deductions under the provisions of the Income Tax Act. How the financial statements (annual accounts) be made. Can they be merged for the purpose for the finalization of accounts. Treatment of income tax to be paid after merger of accounts

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R.Ranganathan (Expert) 27 September 2010
If the trust deed contains the said purpose of promoting educational institute, then it can promote the same.

s.subramanian (Expert) 27 September 2010
I agree.

Sri Vijayan.A (Expert) 28 September 2010
1.If the deed contains so, then the institute can be founded.
2. Then annual accounts can be combined.

rajnish Sharma (Expert) 28 September 2010
it depend up on the deed

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