10 April 2015
Please explain the word 'total income' for the filing the return. Whether it is gross receipts or gross income after considering expenses. Gross receipts for the A.y 2010-11 is 195000.00 . Excess of Expenditure over income is 45000.00 The trust is registered u/s 12A. Whether it is mandatory to file return or nor. Please clarify asap. Thanks in advance
10 April 2015
As the trust is registered u/s 12A it is mandatory to file return. For the trusts the total income will be gross receipts. Expenses will be considered as application of income.