Audit u/s 44ab
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2014
SIR,
A TRUST WHICH IS REGISTERED U/S 12(A) OF THE ACT IS RUNNING A SCHOOL. IT HAS RECEIVED STUDENT FEES, VOLUNTARY CONTRIBUTION AND DONATIONS OF RS.1.25 CRORE
SIR IS IT LIABLE TO GET ITS ACCOUNTS AUDITED U/S 44AB OF INCOME TAX ACT?
SIR PLEASE GUIDE ME
WITH REGARDS
PANKAJ SRIVASTAVA
A TRUST WHICH IS REGISTERED U/S 12(A) OF THE ACT IS RUNNING A SCHOOL. IT HAS RECEIVED STUDENT FEES, VOLUNTARY CONTRIBUTION AND DONATIONS OF RS.1.25 CRORE
SIR IS IT LIABLE TO GET ITS ACCOUNTS AUDITED U/S 44AB OF INCOME TAX ACT?
SIR PLEASE GUIDE ME
WITH REGARDS
PANKAJ SRIVASTAVA
CA SUNIL K GARG
(Expert)
01 September 2014
dear sir,
the trust is not required to get audit u/s 44 AB, rather audit report u/s 10 B along with annex is required. the logic is that trust is not supposed to carry on business .
the trust is not required to get audit u/s 44 AB, rather audit report u/s 10 B along with annex is required. the logic is that trust is not supposed to carry on business .
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