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Charitable trust

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(Querist)
27 December 2011 A client of mine is a trust having PAN and registered with the registrar of Trusts but not under sec.11 of Income Tax.
I understand that the trust is not entitled to claim any exemption u/s 11 & 12...Right?
What would be the Audit Provisions for the trust? section 44AB or 12A(b)?
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CA. Krishna K Neeraj

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CA. Krishna K Neeraj (Expert)
29 December 2011 Where the trust is having business income and not intending to claim any exemption U/s 11 & 12, audit u/s 44AB should be applicable.

Provisions u/s 12A(b) is applicable only if the trust is having intention to claim exemption U/s 11 & 12.
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