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Trust

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(Querist)
30 September 2014 what is the criteria for Maintenance of books of accounts for trust.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 September 2014 If the total income, before applying section 11, exceeds the maximum limit which is not taxable to tax, books of accounts has to be maintained by a trust which is not carrying on business. If carrying on business section 44AA (2) r.a.w section 11(4A)applies.
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