dear sir, whether audit of charitable trust will be applicable in following case Donation received without specific direction is around 300000 and revnue expenditure of trust is also around 300000 ie there is net defict.Now my question is whether audit will be applicable.Further according to provision when income exceeds taxable limit then audit is required.I am confused that for income limit whether net income will be considered or gross receipts.
urgent ..Charitable trust audit applicability
mohit agrawal (Tax Consultant) (123 Points)
02 December 2014
CAclubindia
