ITR FILING -PRIVATE TRUST

Hi, 

What is the ITR Form to be used in case of Private trust (yet to apply for registration under Income tax act for claiming exemption) and what is the Income tax rate applicable in such case ?

Replies (3)
Quick Summary
This discussion clarifies the correct Income Tax Return (ITR) form for private trusts. Depending on the circumstances, either ITR-5 or ITR-7 should be used. The applicable income tax rates, including slab rates, surcharges, and cess, are also detailed. The conversation touches upon whether filing a NIL return is mandatory or advisable for private family trusts with no income.

The income tax return of Charitable Trusts must be filed using ITR 5 or ITR 7. 
In case the Trust is required to file an income tax return due to taxable income is in excess of the basic exemption limit, then ITR 5 can be filed.
In case the Trust is required to file an income tax return mandatorily under Sections 139 (4A) or 139 (4E) of the Income Tax Act, then ITR 7 must be filed.

The slab rate are:
First Rs. 2.50 L - Zero.
Next Rs. 2.50 L to Rs. 5 L - 5%
Next Rs. 5 L to Rs. 10 L- 20%
Next & Above Rs. 10 L- 30%

Surcharge:
10%, in case taxable income is above ₹ 50 lakhs.
15%, in case taxable income is above ₹ 1 crore.
25%, in case taxable income is above ₹ 2 crore. 
37%, in case taxable income is above ₹ 5 crore.

Note- Cess @ 4% shall also be added.

In case of any further queries, kindly mail me at casoravgupta @ gmail.com

Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)

Thank you so much for the reply, Mr.Sorav. I shall get in touch with you if any further clarifications are required. 

In case of  a private family trust - if the income for the year is NIL , is it still mandatory to file ITR-5? Or is it advisable to file a NIL return even when income is below minimum exemption slab?

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details