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Trust Audit

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(Querist)
19 March 2008 1.Trust Audit is mandatory under income Tax Act
2.If a trust has not audited his accounts and 3 years balance sheet audited with us on today. Then on today we will done the Audit as per income tax act or only Balance sheet Audit would be made by us.
3.can we file the Trust Audit of previous years in near future.
4. Any penalty provision impose on the trust.
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alok

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alok (Expert)
06 April 2008 trust audit is mandatory if it's income exceeds it's maximum exemption limit.
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