Form 10b of income tax act

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TANZEEM AHMAD

PROFESSIONAL

25 Points Joined April 2009

PLEASE LET ME INFORM AMOUNT LIMIT OF AUDIT UNDER SECTION 12A (b) of Income Tax Act

OTHER ALL CONDITIONS FOR COMPULSORY AUDIT UNDER SECTION 12A (b) of Income Tax Act

Replies (2)

) where the total income of the trust or institution as computed under this Act without giving effect to the provisions of section 11 and section 12 exceeds 5 fifty] thousand rupees in any previous year, the accounts of the trust or institution for that year have been audited by an accountant

Ravi SADhiyan

Practice

4510 Points Joined July 2017

Originally posted by : TANZEEM AHMAD
	PLEASE LET ME INFORM AMOUNT LIMIT OF AUDIT UNDER SECTION 12A (b) of Income Tax Act OTHER ALL CONDITIONS FOR COMPULSORY AUDIT UNDER SECTION 12A (b) of Income Tax Act

12A

(b) where the total income of the trust or institution as computed under this Act without giving effect to the provisions of section 11 and section 12 exceeds the maximum amount which is not chargeable to income-tax in any previous year, ( Rs.250,000/- for A.Y.18-19 )the accounts of the trust or institution for that year have been audited by an accountant as defined in the Explanation below sub-section (2) ofsection 288 and the person in receipt of the income furnishes along with the return of income for the relevant assessment year the report of such audit in the prescribed form6 duly signed and verified by such accountant and setting forth such particulars as may be prescribed;