Filing or not filing income tax return

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 June 2015 The DTC Employees Superannuation Pension Trust Constitute under the control of DTC Govt. undertaking for the pupose of disbursement of Pension to DTC retire employees in lieu of Employer’s PF contribution. The Trust is exempted from Income Tax Department under Section 10(25) of the Income Tax Act. 1961. The Trust is given “PAN” having status as Trust. The Trust earned income only Interest on investment of PF Contribution. We have filed income tax return upto AY 2013-14 in ITR-7 through paper filing.
For the AY 2014-15 we have e-filed income tax return in ITR-7. In the absence of Trust category in the form ITR-7 online java utility. We could not e-filed our trust return in ITR-7 as this relates to the trust exempted under section 11 not under section 10.
So please guide us the Trust Return filed compulsory or not.

Thanks
Yours faithfully,
(Raj Kr. Singh)
Secy. DTC Employees Superannuation Pension Trust.

Nikhil Kaushik

Nikhil Kaushik (Expert)

02 June 2015 you can file ITR-5 sir. ITR-7 was never applicable to you. exemption under 10(25) can be claimed in ITR-5 easily.

generally organizations exempted under 10(25) file return only where there is any tax refund. However, I would advise that it is always better to file the return irrespective of whether there is tax refund or not.

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2015 Sir

OUR DTC Employees Superannuation pension Trust earned income from interest on Investment of Employer Provident Fund Contribution and the total income is not taxable due exempted under section 10(25)iii (same as per recognize provident Fund Trust) as per your suggestion Income Tax Return may be submit in ITR -5. but our return not upload due to ITR-5 (Java utility)not shown exemption under section 10(25). No any refund in the AY 2015-16 please advise we file the retur or not

Thanks

Nikhil Kaushik

Nikhil Kaushik (Expert)

02 June 2015 you can claim exemption in "EI" part of the return.

if there is no refund, you may not file the return. But as I said earlier, I would still advise you to file the return regardless of the refund position.

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