Audit of charitable trust
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 April 2017
Hi,
there is a trust trust registered under the Bombay Public Trust Act, 1950. They have not carried any activity whatsoever since its inception in the year 2014. They had received donation in the first year for Rs. 1 Lakh and has not received any amount since then. Is audit liable to such trust where no activity is carried out throughout the year.
Thanks in advance.
there is a trust trust registered under the Bombay Public Trust Act, 1950. They have not carried any activity whatsoever since its inception in the year 2014. They had received donation in the first year for Rs. 1 Lakh and has not received any amount since then. Is audit liable to such trust where no activity is carried out throughout the year.
Thanks in advance.
25 April 2017
Audit is not required if trust is not registered u/s 12A of Income tax.
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