https://www.taxtmi.com/forum/issue?id=1727 Subscription of trust funds to a registered chit is assessed against the trust exemption regime's investment eligibility requirement; an assessing officer may disallow exemption if the registered chit does not meet statutory eligibility criteria. If the registered chit qualifies as an eligible investment, the assessing officer cannot disallow the exemption; otherwise the exemption may be denied, so trusts must document and establish the chit's eligibility. en-us Sat, 23 Jan 2010 11:59:26 +0530 Thu, 23 Jan 2025 15:58:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1727 Subscription of trust funds to a registered chit is assessed against the trust exemption regime's investment eligibility requirement; an assessing officer may disallow exemption if the registered chit does not meet statutory eligibility criteria. If the registered chit qualifies as an eligible investment, the assessing officer cannot disallow the exemption; otherwise the exemption may be denied, so trusts must document and establish the chit's eligibility. Discussion-Forum Income Tax Sat, 23 Jan 2010 11:59:26 +0530 https://www.taxtmi.com/forum/issue?id=1727