Audit report for trust

This query is : Resolved

Guest

Guest (Querist)

30 January 2012 Dear sir,
Please explain whether it is necessary to prepare tax audit report u/s 44AB for trust claiming exemption u/s 10 to 13

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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30 January 2012 Sec. 44AB prescribing tax audit report falls under Chapter IV-D dealing with computation of profits and gains of business or profession.
If trust registered under section 12AA of the I.T Act,1961 is not doing business, question of tax audit doesn't arise.

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