dear friends when audit of trust is required and under which section? thanks in advance
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audit of trust
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If before giving exemption, total income of trust exceeds maximum limit not chargeable to tax, trust has to get audit report.
Dear sir,
The Books of Accounts of the trust must be audited if income of the trust, including corpus donation exceeds Rs. 1,60,000/- (before claiming exemption u/s.11)
Regards
K.Ilayaraja
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