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Form 10b monetory requirement in trust. (Audit)

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This query is : Resolved

( Querist )
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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