CAN AN EDUCATIONAL TRUST ACCEPT DEPOSIT

[SANKARA NARAYANAN ME]

ABC IS AN EDUCATIONAL TRUST. IS IT POSSIBLE TO IT, TO ACCEPT DEPOSIT OR BORROW LOAN FROM PUBLIC PEOPLE?. IF POSSIBLE, WHAT IS THE MAXIMUM INTEREST RATE?

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above said issue? If not please inform.

AI Summary

Educational trust borrowing questioned: permissibility of public deposits and applicable maximum interest rate remain unresolved. Whether an educational trust may accept deposits or borrow funds from the public and what maximum interest rate applies is posed as a tax related compliance query; the lone reply does not resolve the legal permissibility or interest rate ceiling and merely asks if the issue was clarified.