Charitable Trust may be registered under 12A and 80G of the I T Act but unless specifically exempted for TDS, yearly based on application made, TDS provisions applicable to the trust even trust income is exempted.TDS provisions applicable to the trust when it makes payment to others. Chegi Reddy Pothi Reddy. (Querist).
Petroleum is found in many places around the world: the largest reserves, however, are located in Saudi Arabia, Venezuela, Canada, Iran and Iraq. Petroleum reserves may span vast areas of land. They are found on land and at sea, and some locations have a wealth of reserves in one central spot, which are called petroleum plays. Continue Reading.
Freebase (5.00 / 1 vote) Rate this definition: Petroleum. Petroleum is a naturally occurring flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface.