Trust audit
This query is : Resolved
Sonal Chavda
(Querist)
24 September 2013
I have Query about form 10B Utility..
There is a Trust, Its Income doesn't exceed Exemption limit 200000 and trust has registration u/s 12A.
Whether Trust Should include form 10B in its Audit Report..???
There is a Trust, Its Income doesn't exceed Exemption limit 200000 and trust has registration u/s 12A.
Whether Trust Should include form 10B in its Audit Report..???
deepak K Gujrati
(Expert)
24 September 2013
As the trust is registered u/s 12A and enjoying exemption, it is required to get the accounts audited. So please give report in 10B
Sonal Chavda
(Querist)
24 September 2013
Deepak Sir,
I want to know that why trust shoud audited its accounts???
Its Income does not exceed maximum amt which is not chargeable to tax..
Whether it is compulsory to audit books of accounts of the Trust who has Registration u/s 12 A.??
I want to know that why trust shoud audited its accounts???
Its Income does not exceed maximum amt which is not chargeable to tax..
Whether it is compulsory to audit books of accounts of the Trust who has Registration u/s 12 A.??
deepak K Gujrati
(Expert)
24 September 2013
If its income is less than the maximum amount chargeable to tax then audit and report in form 10B is not required.
In that way your understanding is correct.
In that way your understanding is correct.
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