https://www.taxtmi.com/article/detailed?id=9314 Use or application of a trust's income or property for the benefit of specified persons leads to denial of exemption. Specific deemed instances include lending without adequate interest or security, making property available without adequate rent, excess or inadequate payments for services, purchasing or selling property at more than or less than adequate consideration, diversion of income or property favouring specified persons above the statutory aggregate, and investment in concerns where specified persons have substantial interest; limited relief confines denial to income from small investments. en-us Wed, 01 Jul 2020 07:51:30 +0530 Wed, 01 Jul 2020 07:51:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9314 Use or application of a trust's income or property for the benefit of specified persons leads to denial of exemption. Specific deemed instances include lending without adequate interest or security, making property available without adequate rent, excess or inadequate payments for services, purchasing or selling property at more than or less than adequate consideration, diversion of income or property favouring specified persons above the statutory aggregate, and investment in concerns where specified persons have substantial interest; limited relief confines denial to income from small investments. Articles Income Tax Wed, 01 Jul 2020 07:51:30 +0530 https://www.taxtmi.com/article/detailed?id=9314