Trade Union Income tax Return

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This discussion addresses how trade unions, whose financial statements are audited on a calendar year basis, should file their Income Tax Returns (ITR). It clarifies that accounts often need to be restated for tax purposes. The advice also covers the submission of the statutory audit report, stating it should be filed according to the requirements of the Trade Union Act 1926, alongside the prescribed annual report.

shivani

shivani (Querist)
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28 February 2025 Hello Experts, The trade union's Financial Statements are audited on the basis of Calendar year, how are we suppose to file ITR of them? Also where do we have to submit the Stat Audit report of Trade Union?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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28 February 2025 you will have to restate the accounts for the purpose of tax filings. filings other than ITR shall depend upon the applicable law - societies Act etc under which the union was incorporated.

shivani

shivani (Querist)
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28 February 2025 It was incorporated in Trade Union Act 1926.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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28 February 2025 then you need to submit annual report as prescribed under the Trade Union act too.

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