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Defective itr-7

ITR 305 views 1 replies

NISHA AGARWAL

Chartered Accountant

454 Points Joined April 2011

Post efiling of ITR-7, a mail was received suggesting that if form 10BB was not upoaded, then the return turns defective. But the trust is not registered under u/s 10(23C)(iv), 10(23C)(v), 10(23C)(vi), 10(23C)(via), but it is registered u/s 12A. What should be done in this case?

the message received is as follows:

"Section 11 deductions claimed in Sr. No. 4 of Part BTI is allowed only if Form 10BB is filed on or before filing of the return in case of assessee who is approved u/s 10(23C)(iv), 10(23C)(v), 10(23C)(vi), 10(23C)(via)."

Replies (1)

CA Sunil Kumar

Chartered Accountant

4524 Points Joined July 2014

Both sections 12A and 10(23)(C) require audit reports in Form 10B and Form 10BB
For claiming exemption under section 11 and 12 of income tax Act, 1961 charitable or religious trust or institution shall mandatory have to get their accounts audited if the total income without giving effects to provisions of section 11 and 12 exceed maximum amount not chargeable to tax and shall obtain audit report in form 10B.