11 July 2019
A Trust Without exemption certificate u/s 12AA, When we File IT Return ( ITR 5 ) , and CPC Processed the return and Charged MMR (30%+Surcharge and Cess ) on Net Profit without considering the basic exemption limit (of Rs 250000). How to Reply demand Notice ?
12 July 2019
In case members of the trust have taxable income 30% tax applicable and basic exemption not allowed. Check how you filled the ITR for this query.
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