audit

Internal Audit 173 views 1 replies
Is the audit must for charitable trust?
Replies (1)

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.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register