Filing of IT Return Of trust under cancellation
This query is : Open
Sridhara murthy
(Querist)
26 January 2017
Trust want to close the operation as it has no such charitable activities but it has spent such expenses up-to Dec 2016. Trust want to transfer entire bank balance to another similar charitable trust
Is it necessary to file the IT returns for expenses incurred up to Dec 2016 in the I T return for the At 2017-18?
CA R SEETHARAMAN
(Expert)
26 January 2017
Yes the return has to be filed including the transfer which will be treated as application for charitable purpose
Sridhara murthy
(Querist)
26 January 2017
thanks for the opinion
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