Trust
This query is : Resolved
30 September 2014
what is the criteria for Maintenance of books of accounts for trust.
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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