Tax liability on trust not having 12aa certificate


(Querist)
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 ?


CA R SEETHARAMAN (Expert)


Click to Talk 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.

Patel Manoj (Querist)
12 July 2019
Thanks a lot for valuable advice
But one more quarry is no member or even trustee of trust having income exceeding Basic Exemption limit

Even though trust got notice with MMR tax.
Kindly advice me Sir.

CA R SEETHARAMAN (Expert)


Click to Talk 12 July 2019
Check you have filed the return rightly in reply to query on trustee's income. If so file appeal with CIT appeal.

Patel Manoj (Querist)
12 July 2019
Thank you sir we consider your advice


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