Tax audit of charitable trust

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Vivek (Querist)

13 February 2016 Hello.... I want to know how tax audit of charitable trust is conducted.. I mean What items are checked and forms etc filled and tax audit report etc

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

14 February 2016 Tax audit report for charitable trust to be filed in Form 10b. Utilisation of 85% of receipts to be spent for charitable objects of the trust to be checked.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

15 February 2016 1. If the trust is doing business and the turnover > Rs. 1 crore, tax audit applies and to be conducted as being done for other business entities. Consequently, report has to be necessarily given in form 3CB and Form 3CD.

2. It the above said trust is registered u/s 12A and enjoying the benefit of section 11, then report in form 10B is also required.

3. Both the reports has to be filed electronically.

Vivek

Vivek (Querist)

15 February 2016 Thanks for assistance.

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