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Form 10b monetory requirement in trust.

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(Querist)
16 October 2012 Sir,

please tell me the monetory requirement to fill form 10b in trust audit return.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 October 2012 Where the total income ,before claiming section 11 and 12 ,exceeds the maximum amount which is not chargeable to tax ( basic exemption), the accounts have to be audited and report in Form 10 B has to be obtained by the trust. Please refer section 12A (1)(b) of the Income tax Act,1961.
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