Trust audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2013
what is provision regarding trust audit for 2012-13?
what is any limit for trust audit?
what is any tax liability for trust?
what is any limit for trust audit?
what is any tax liability for trust?
06 July 2013
1. Letter of appointment as auditor from the trustees and acceptance thereof.
.
2. Audit report to be filed on or before 30th September.
.
3. 85% of Income (Receipts) to be "applied" for charitable purpose if it is registered with CIT.
.
(The meaning of "applied" is very wide).
.
4. If not regd.; maximum marginal rate of tax will be chargeable.
.
5. Without expert knowledge; "handsome" troubles may arise "after conducting" such work.
.
2. Audit report to be filed on or before 30th September.
.
3. 85% of Income (Receipts) to be "applied" for charitable purpose if it is registered with CIT.
.
(The meaning of "applied" is very wide).
.
4. If not regd.; maximum marginal rate of tax will be chargeable.
.
5. Without expert knowledge; "handsome" troubles may arise "after conducting" such work.
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