02 February 2015
Yes, ie., if the total income of the trust, before claiming exemption u/s 11, exceeds the maximum amount which is not chargeable to tax, the trust has to get its accounts audited leading to filing of audit report (form 10B) and ITR-7 ELECTRONICALLY from assessment year 2013-14 on wards.
The 2nd limb (xl utility) is left open for comments of members.