A Trust registered under section 12A has gross receipts less than the taxable limit ie Rs.2.50 lakhs
Income Tax has not been filed before due date ie., 31st July 2016
The Trust now desires to file belated return.
Will there be any consequences due to late filing of IT return.
Thanks,
Maheswar
There may be levied a penalty of Rs. 100 per day under section 272 during the period of default. It is suggested you file its return as early as possible.
RBSM Corporate Advisors Private Limited
Pune
CA
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Hema Yashwanth & Associates
Chennai
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