Charitable trust
This query is : Resolved
29 May 2015
I have an assessee who is a Trust registered as charitable trust under income tax act, and they have received an intimation u/s 143 (1) demanding the tax of Rs. 4500/-at individual slab rate (Their income is 245000/- Application is 250000/-)
How can we determine The base on which the Dept has levied tax ?? Is there any provision as to apply the individual tax rate to Charitable trust? How to move forward, can any one help me?
JAya
How can we determine The base on which the Dept has levied tax ?? Is there any provision as to apply the individual tax rate to Charitable trust? How to move forward, can any one help me?
JAya
CA R SEETHARAMAN
(Expert)
29 May 2015
Probably you have not complied with the requirement of filing of return for charitable trust. Check the status in the intimation. Have you filed audit report.
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Rupesh Jain
(Expert)
29 May 2015
pls check when you file ITR. it possible you have not mention its registered truxt.
29 May 2015
Is it mandatory to file the Audit Report along with ITR? The issue relates to A.Y.2013-2014
CA R SEETHARAMAN
(Expert)
29 May 2015
You should have filed the return in ITR7 accompanied by audit report in form 10B.
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