audit

Where the total income of the Trust as computed under the Act without giving effect to the provisions of section 11 and section 12 exceeds the maximum amount not chargeable to tax in any year (The rate applicable is of Individual which is currently Rs. 2,50,000/-), the accounts of the Trust for the year must be audited by a Chartered Accountant and the Trust must file the auditor’s report in the prescribed form No. 10B (Rule 17B), setting forth the prescribe particulars, with the Return of Income.