|
kindly guide on the following query:-
We are corporate body and want to create a charitable trust under trust act and Indian Income Tax Act. Now the query is that can all the directors and share holders of this Private Ltd Company can become trustees of the new charitable trust. Is there any provision under income tax act or companies act which prohibits the directors of the company to become trustees in the trust. Also kindly guide that whether our company can make donations to the charitable or the donations that would be granted are also denied. Kindly guide on the this issue.
Regards |
