25 February 2017
Let me know, whether provisions of Tax audit is applicable to the Trust(12AA)/ Entity covered in section 10(23B) of income tax act or similar institute covered under other sections of incometax act,1961.
i would like to wait for your early and positive reply with reference.
25 February 2017
Tax audit u/s 44AB not applicable to Trust registered u/s 12AA. To qualify for exemption u/ss. 11 and 12, a trust having total income (before exemption u/ss. 11 and 12) exceeding the maximum amount not chargeable to tax must have its accounts audited by a C.A.
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