Computation of charitable trust- registered u/s 12a

This query is : Resolved

CHANDRAKALA (Querist)
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10 November 2018 I have below mentioned receipts and payment a/c. How to do computation of total income

Receipts and Payment A/c

opening cash 700 expenses 48000
op.bank balance 18950

donations 32000 cash 3150
Cl.bank balance 500

Total 51650 51650

Computation statement

Receipts as per R & P A/c 32000
Less: Expenses 48000
Loss 16000

I filed return as per this computation but i have received 143(1)(a). In that notice it shown more than income. In that we spend money in opening balance . How to show in ITR-7. please suggest me

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 November 2018 Seems the error is due to mistake in filling Schedule ER.

CA Amrita Chattopadhyay

CA Amrita Chattopadhyay (Expert)
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12 November 2018 The income tax department must have seen 26AS and sent you the notice. Did you reconcile your books with 26AS before filing the return?