Section 11 of ITA : Section 11: Trustee To Execute Trust
ITA
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Explanation using Example
Imagine a situation where Mr. Sharma establishes a trust with the purpose of providing educational scholarships to underprivileged children. He appoints his friend, Mr. Gupta, as the trustee. The trust deed explicitly states that the funds should be used to cover tuition fees for children attending primary and secondary schools.
Mr. Gupta, as the trustee, is approached by a local college requesting funds to support college-level students. Despite ...
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