Under the Indian Trusts Act, 1882, in case of actual receipt of interest, the trustee must:
In the first case under section 23, where the trustee "has actually received interest", he is liable to account for the interest actually received. The fixed rate of six per…
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Under the Indian Trusts Act, 1882, in case of actual receipt of interest, the trustee must:
Answer and explanation
Correct answer C
In the first case under section 23, where the trustee "has actually received interest", he is liable to account for the interest actually received. The fixed rate of six per cent applies to clauses (b) to (d), and compound interest to clauses (e) and (f).