Written by An informative article on assessment of charitable trusts pertaining to the issue of ‘Excess application of Income over Income derived’ by the Trusts.
The article discusses whether the excess application of income by the trusts in India over the income derived is eligible to be carried forward in the subsequent years.
https://taxguru.in/income-tax/assessments-charitable-trusts-excess-application-income.html
S R Chakravarthy and Associates 