Menu
Audit in 10B
we have an NGO registeted under 80G. Previous year we filled Income Tax return and audit in 10 B. In previous year we made surplus above basic exemption limit and took deduction u/s 11 . Now this year we have deficit. Now what is right to do audit in 10 B for which last date is 31st sep, or we have to file normal income tax return for which last date is 31st July.
Replies (1)
If the Gross Total Income of the trust ( Including Corpus Donations ) before claiming exemptin u/s 11 and 12 exceeds 2,50,000 ( A.Y 2018-19) then the accounts of the trust are subject to audit and the trust should submit Form 10 B.
In case of loss, accounts of trust are not required to audit.
In case of loss, accounts of trust are not required to audit.
Recent Topics :
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
Related Topics :
CAclubindia
