MSME Certified Income Tax Live Batch to commence from 21st January 2022. Limited Seats. Register Now!!


Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Trust audit

This query is : Resolved 


Querist : Anonymous

Profile Image
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?

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries