09 May 2018
Trust exempted u/s 10(23)(vi) got negative income and submitted in ITR-7. CPC rejected the return with the plea that it should be submitted in ITR other than ITR-7. Is it correct, if so, can we submit in ITR-5. Please inform us immediately.
10 May 2018
query is not very clear. how came to negative income? there may be excess of application over the income. ITR-7 is the only appropriate form. no other can be used.
CAclubindia
