Regarding tax liability
This query is : Resolved
29 August 2019
Sir, I had filed the return of my trust in last A.Y. 2018-19. Gross receipt was Rs 10,00,000/- and Income over the expenditure was Rs. 1,50,000/- though i have 12A but i fail to file 10B . ITD has calculate the income of my gross receipt . Now my question is that due to failure of submission of 10B either the department will calculate tax on my income or on my gross receipt. Kindly help me
30 August 2019
Tax will be levied on gross receipt, since exemption u/s 11 is not given for want of
filing 10B along with ITR-7.
filing 10B along with ITR-7.
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