Trust audit
This query is : Resolved
ACS Gaurav Jain
(Querist)
15 November 2013
actually a Religious trust form in 2009. but did not registered under income tax act yet. Trust Have Income of Intrest, Sand and Donation. all income applied for Temple construction.
There was contractor. Total Payment was neraly Rs. 5000000 and NIL TDS deducted.
So tell me
1. TDS require in this case. Now what can I do Trust not filed any return from year 2009.
2. Tax Audit require or Not.
3. Which type of audit is require.
There was contractor. Total Payment was neraly Rs. 5000000 and NIL TDS deducted.
So tell me
1. TDS require in this case. Now what can I do Trust not filed any return from year 2009.
2. Tax Audit require or Not.
3. Which type of audit is require.
Nikhil Kaushik
(Expert)
15 November 2013
1. trusts including religious trusts are required to comply with TDS regulations.
Therefore, TDS was deductible against the payments made to the contractor. It is advisable that you kindly compute the TDS liability and the interest liability including interest for late deduction and deposit of TDS and penalty under 234E for late submission of TDS returns.
2. Tax audit is applicable. Please refer to form 10B.
Therefore, TDS was deductible against the payments made to the contractor. It is advisable that you kindly compute the TDS liability and the interest liability including interest for late deduction and deposit of TDS and penalty under 234E for late submission of TDS returns.
2. Tax audit is applicable. Please refer to form 10B.
ACS Gaurav Jain
(Expert)
15 November 2013
Tax audit is applicable when it received donation above 40 or 60 or 100 lacs.
ACS Gaurav Jain
(Expert)
15 November 2013
Can we deducct tds today .. Actuly some amount is remain. And he still not submitted bill.
Nikhil Kaushik
(Expert)
21 November 2013
1. audit under 12A(b) shall apply if income exceeds maximum exempt limit ie Rs 2 lakhs. The return is to be compulsorily filed online. 44ab doesnt apply.
2 You can deduct TDS today and deposit the same with the govt along with the interest payable.
2 You can deduct TDS today and deposit the same with the govt along with the interest payable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Tax on Amount transferred in HUF Account
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
