Audit report under form 10 b
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 October 2018
A Trust is registered under Bombay Public Trust Act but NOT Registered U/S 12 A of Income Tax Act. Its total Revenue is 19,31,037/- and Net Surplus is Rs. 3,48,466/- for the Assessment Year 2018-19.
The Trust is getting Audit Report Under Form 10B and filling Income Tax Return. It also claimed the Deductions towards Capital Expenditure U/S. 11.
Kindly guide whether the audit without Registering U/S 12 A is correct or what should the Trust have to do.
The Trust is getting Audit Report Under Form 10B and filling Income Tax Return. It also claimed the Deductions towards Capital Expenditure U/S. 11.
Kindly guide whether the audit without Registering U/S 12 A is correct or what should the Trust have to do.
CA R SEETHARAMAN
(Expert)
20 October 2018
Audit report under form 10b and filing of ITR 7 not required for 12A not registered trust. File ITR 5 without audit report.
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