charitable trust
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 March 2011
Dear sir
In my home town there is an advocates bar association registered as charitable trust. Its gross receipt during 2010-11 is around 5 lakh. My question is any need to file return and audit accounts. if yes what is the form to be used and what is the criteria for the same.
thanks
In my home town there is an advocates bar association registered as charitable trust. Its gross receipt during 2010-11 is around 5 lakh. My question is any need to file return and audit accounts. if yes what is the form to be used and what is the criteria for the same.
thanks
25 March 2011
1) Registration under section 12AA of the Income tax Act,1961 with the Income tax department may be taken.
2) The accounts of the trust has to be audited if the total income of the trust exceeds the maximum amount which is not chargeable to tax.
3) Audit report id to be obtained in Form 10B of the above said act.
4) Income tax returns has to be filed voluntarily on or before the due date.
2) The accounts of the trust has to be audited if the total income of the trust exceeds the maximum amount which is not chargeable to tax.
3) Audit report id to be obtained in Form 10B of the above said act.
4) Income tax returns has to be filed voluntarily on or before the due date.
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