TaxTMI 
TaxTMI 
Treatment on borrowed funds utilization for application of income - Charitable Trust
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....reatment on borrowed funds utilization for application of income - Charitable Trust<br> Query (Issue) Started By: - PRIYAM KHAMBHATA Dated:- 23-9-2026 Income Tax<br>Income Tax<br>Respected Sir In c....
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....haritable trust, during the year borrowed funds taken of Rs.5,00,000, which has utilized in application. Further, out of borrowed funds, there are re-payment made of Rs.100000 during the year under co....
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....nsideration. What would be the treatment of application claimed for the year. My understanding is below Application of Rs.400000 (500000 borrowed funds - 100000 paid borrowed funds) to be disall....
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....owed. as during the year Rs.500000 borrowed funds utilized and its repayment made of Rs.100000 during the year. therefore, net borrowed funds of Rs.400000 is outstanding, which has utilized for applic....
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....ation. We are reporting Rs 400000 only as borrowed funds, which has utilized for application, and it would be disallowed for the year under consideration. Is this correct understanding in respect o....
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....f reporting in ITR and Form 10B Please guide me<br> Discussion Forum - Knowledge Sharing ....