a trust has a net profit of 1 lakh, is it liable to file return of income for AY 12-13
Menu
Filing return of income for trusts
Replies (2)
Trust is required to file a return when Income before claiming exemption U/S 11 is more than basic exemption limit.instead of considering profit, consider "Income" to check whether trust is required to file return or not..
Trust is not obliged to file ROI,when its business income is Rs.1 lac,as this income is to be assessed as business income and basic exemption limit is Rs.1,80,000/-, provided there is no other income of the trust.
Recent Topic
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
Related Topics
CAclubindia
