Charitable trust operate a iti college, no any audit report

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Mithilesh Bharati (Querist)
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12 March 2014 Dear all,

Charitable trust ( No Registration u/s 12A or 80G) operate a ITI college.

for AY 2013-14 Loss incurred by the trust for FY 2012-13, whether any audit report is required to submitted by the trust to Income tax dept?

If yes what is due for submission,In what form no. of audit report,under which section?
No any audit report and no Income tax return filled by the trust till date for the AY 2013-14.

Can trust now filed the ITR and audit report?

Trust is want to file return and audit report in paper form.

Kindly suggest.
thanks

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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19 March 2014 1. Since the trust is NOT registered u/s 12AA or 80G, audit will be required if the gross receipts exceed Rs. 1 crore.

2. Return will be filed in ITR 5.

3. The return can be filed till 31/03/2015.

Message likes : 1 times

Mithilesh Bharati

Mithilesh Bharati (Querist)
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19 March 2014 Dear sir,

As the nature of assessee is trust and trust deed is saying that no surplus/profit from the trust can be withdrawn by the trustee.

Whether trust is BOI/AOP.

Now your answer is same?

Rupesh Jain

Rupesh Jain (Expert)
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25 March 2014 yes in any trust or education society trust deed have same clause.

above thing is same

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