Corpus Fund

Querist : Anonymous (Querist) 29 December 2010 This query is : Open
A charitable trust have Corpus Fund and want to lend/invest it as debenture in Private Limited Company through private placement.Question in respect with above are as follows:

1. Whether Section 11(5)of Income TAx Act 1961{i.e.prescribed investment}is applicable to Corpus Fund ?
2.Whether newly trust can invest corpus fund in above manner?

All of you are kindly requested to answer the same. Thanks.

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