Trust section 11 exemption lost if itr is late?
This query is : Resolved
15 August 2023
for asst.2122, if itr was filed without audit report, (audit report was filed after itr was filed), exemption should not go right?
itr and audit report both were late,
my view--> if itr was late, they cant deny exemption
https://taxguru.in/income-tax/misinterpretation-section-12a1ba-cpc-lead-huge-tax-demands.html
itr and audit report both were late,
my view--> if itr was late, they cant deny exemption
https://taxguru.in/income-tax/misinterpretation-section-12a1ba-cpc-lead-huge-tax-demands.html
CA R SEETHARAMAN
(Expert)
15 August 2023
Yes you are right.
https://taxguru.in/income-tax/section-11-exemption-denied-merely-delay-furnishing-form-10b.html#:~:text=So%20the%20exemption%20otherwise%20available,(b)%20of%20the%20Act.
https://taxguru.in/income-tax/section-11-exemption-denied-merely-delay-furnishing-form-10b.html#:~:text=So%20the%20exemption%20otherwise%20available,(b)%20of%20the%20Act.
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