Audit report in Form 10B

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This discussion clarifies whether a trust with an exemption under Section 12AB and gross receipts not exceeding £2,50,000 is required to file Form 10B. The consensus is that filing Form 10B is not mandatory in such circumstances. This provides important guidance for trusts managing their compliance obligations.

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(Querist)
14 July 2022 Is it mandatory to file Form 10B if the Trust have got exemption U/s 12 AB and the Gross receipts of the Trust does not exceed the maximum amount which is not chargeable to tax (i.e) 2,50,000 ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 July 2022 It's not mandatory to file Form 10B in such a case.
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Santhosh

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Santhosh (Querist)
14 July 2022 Thank you so much Sir!
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 July 2022 You are welcome............
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