Regarding itr 7 and audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2016
Dear Sir,
I want to know that , can I file ITR 7 for a school registered under a trust whose net profit is under the prescribed limit i.e. 250000 for a.y.15-16 without doing audit ?? Is audit is required??
If audit is required then please tell the procedure briefly.
I want to know that , can I file ITR 7 for a school registered under a trust whose net profit is under the prescribed limit i.e. 250000 for a.y.15-16 without doing audit ?? Is audit is required??
If audit is required then please tell the procedure briefly.
28 March 2016
If the net profit before claiming exemption u/s 11 and 12 <2,50,000 no need to audit.
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