An article on Assessment of Charitable Trusts pertaining to the issue of 'Excess Application of Income over Income Derived'. The article discusses whether the excess of income applied for objectives of Trusts in India is eligible to be set off against Income derived by such Trusts in the subsequent years. https://taxguru.in/income-tax/assessments-charitable-trusts-excess-application-income.html
Assessment of Charitable Trusts
K S Sridhar and Associates 