alleryStart learning →Under section 13(9), the accumulation benefit of section 11(2) is lost if the trust fails to do what?
APay all its income out
BHold a trustee meeting
CFile return by due date
DChange its auditor
Answer & Solution
Correct answer: C. File return by due date
Section 13(9) denies the accumulation benefit when the return, or the accumulation statement, is not furnished by the due date under section 139(1).
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