Regarding income tax return filing for private trust.

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Budharaju sriram (Querist)
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02 January 2015 Dear sir,

When do the private trust have to file their income tax return (they do not have 12A & 80G) and what is the income limit crossing which they have to file their Return and Which ITR ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 January 2015 ITR 5 has to be filed. Income limit for filing return depends on income sharing ratio of trustees and their taxability.

Amol S Joglekar

Amol S Joglekar (Expert)
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02 January 2015 It is always advisable for the private trusts to file ITR.

ITR 5 or ITR 7 may be filed, as the case may be

The date of filing return is as specified u/s 139

Budharaju sriram

Budharaju sriram (Querist)
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07 January 2015 Dear Sir,

What is the Return(ITR) that needs to be filed for private Discretionary Trust for the A.Y 13-14 ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 January 2015 File ITR 5..................

Budharaju sriram

Budharaju sriram (Querist)
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07 January 2015 But ITR 5 is not showing the option of Private Trust in Ststus where as ITR 5 for the A.Y 14-15 is showing that option.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 January 2015 No problem you have to file ITR 5 only choose AOP.

Amol S Joglekar

Amol S Joglekar (Expert)
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09 January 2015 The status of private discretionary trust is AOP...

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