E-filling of trust

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Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2016 Please advise which ITR is to be filled for trust (employees Provident fund trust which is recognized under income tax ) whose income is totally exempt u/s 10(25)(ii). I have tried with ITR 7 but in drop down list of exemption under section 10, clause 25 is not there. please help

CA SANJEEV KUMAR MAHAJAN

CA SANJEEV KUMAR MAHAJAN (Expert)

27 March 2016 Hi,
ITR 7 does not apply to Recognized Provident Fund. Actually Provident Funds are not required to file ITR u/s 139 as their income is totally exempt u/s 10(25).
They Normally file return only to claim refund of TDS wrongly deducted on Interest Income. Hence you can only file ITR 5 as AOP

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Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2016 Thanks sir for your valuable suggestion. can u please explain is it optional or mandatory to file ITR 5 in this case and if one not file the same, what are the consequences.

Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2016 Thanks sir for your valuable suggestion. can u please explain is it optional or mandatory to file ITR 5 in this case and if one not file the same, what are the consequences.

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