Co.operative bank as trust ?

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Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2014 One of my client is registered as trust in income tax department as per PAN status. but its working as a CO.OPERATIVE BANK.
what is the circumstances while filing the income tax return as well as Tax audit report?
under which section the deduction is claimed as per 80P or 11/12?
will it not differ my report form income tax return and tax audit?

Amol S Joglekar

Amol S Joglekar (Expert)
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20 November 2014 01. Report the same in the tax audit report.
02. Going forward, ask the client to apply for the change in the status.

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Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2014 under which section the deduction is claimed as per 80 P or 11/12? will it not differ my report form income tax return and tax audit?

Amol S Joglekar

Amol S Joglekar (Expert)
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20 November 2014 Wisdom prevails, what is the status? Is it a trust? Do you have the trust deed copy?
What the papers are speaking, accordingly you have to take the call.

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