Form 10b monetory requirement in trust.

This query is : Resolved 

16 October 2012


please tell me the monetory requirement to fill form 10b in trust audit return.

B.Chackrapani Warrier (Expert)
16 October 2012

Where the total income ,before claiming section 11 and 12 ,exceeds the maximum amount which is not chargeable to tax ( basic exemption), the accounts have to be audited and report in Form 10 B has to be obtained by the trust. Please refer section 12A (1)(b) of the Income tax Act,1961.

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