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audit of trust

19 December 2016

when(income limit) trust is required to get it's books of account get audited as per I.T.act and as per bombay public trust act?

trust is not registered u/s 12a...but only registered under bombay publis trust act

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3 Replies

Shubham Gupta (Business Consultants) (2077 Points)
Replied 20 December 2016

Trust is required to be audited if it is registered under section 12A as per Income tax

Or if its turnover exceeds the turnover as per 44AD

Or if it is special mentioned in trust deed then it should get its accounts audited

For More Info Visit

mytaxfiling.in

shycacs (Article) (48 Points)
Replied 20 December 2016

Can I open a trust register for buying and selling property instead of co-operative society . Is it necessary to to have a charitable purpose for opening a trust.