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Itr form to be used

ITR Filing 589 views 3 replies

Please let us know form of ITR to be used for the following cases with substantive answers?

1. A Provident Fund trust which is managed by a company having its own trust deed governed by its trust rules and which has obtained recognition under Income Tax Act.

2. A Superannuation Fund Trust which is managed by its company having its own trust deed and which has obtained recognition under Income tax Act. Please note that approval for the same is obtianed under Sch IV of Income Tax Act.

Also pls let us know the Audit report format to be furnished since Form 10B is not applicable in this case.

 

Replies (3)

I belive you have to use ITR-7

There is no prescribed format as such. You can make your own format for Audit Report to be addressed to the trustees.

Further views are welcome.

regards

 

 

You may like to read through these articles

 https://profit.ndtv.com/news/industries/article-provident-fund-panel-grants-regular-tax-exemption-to-68-private-trusts-384145 

https://articles.economictimes.indiatimes.com/2014-07-10/news/51301301_1_money-and-accounts-pf-trusts-senior-epfo-official

These are interesting questions, as we don't come across these type of situations on day to day basis... I did some research but I too find ITR-7 as the closest answer but can not say if it is correct...ITR-7 is for charitable trust and institution, that's why I am confused... 


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