Itr of a charitable trust

ITR 199 views 7 replies

Hi!

can someone give me an idea about the ITR filing for a charitable trust. was it 31st August or it's 30th October. This trust is hardly having transactions of Rs 3-4 Lac during the last financial years in their bank account. Thanx in advance ..

Replies (7)

 Trust 

1) Whose accounts are requried to be audited then date is 30th september 2018

2) Whose accounts are not requried to be audited  31st Aug 2018 

For Audit  cases date is extended up to 30th Oct 2018 please confirm 

Thanx Mr. Nilugal.

Can you please confirm me would my trust be required to undergo Audit when we are all in all having a receipt of 3-4 Lac.?

 

please also confirm what are the conditions when a Trust is mandatorily required to go for Audit?

 

Is your Trust  registered under  section 12AA of the Income tax act  1961 ?. 

No, its not registered u/s 12AA, but we are having a trust deed registered

since the trust is not registered under 12AA of the income tax act 1961, it will be treated as an AOP/BOI and will have to go for tax audit under section 44AB only if its total income exceeds 1 crore. Further ITR 5 to be filed.

Its better to registered under 12A of the income tax 1961 for benefits under  section 11 & 12 of the income tax act where in you spend more than 85% towards its  object of the trust  in India  then there is no tax on balance 15% , If your trust is charitable and not religious  then  you  should get registered  under  section 80G benefits . 80G benefits is only for Charitable trust . 


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