Form 10b monetory requirement in trust.
This query is : Resolved
shailesh karnani
(Querist)
16 October 2012
Sir,
please tell me the monetory requirement to fill form 10b in trust audit return.
please tell me the monetory requirement to fill form 10b in trust audit return.
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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