Loss Return of Trust

NO

If you are talking about charitable trust ............NO

yes, Form N0.7

If Receipts of Trust is More than Rs.100000 than that trust has to get thier account Audited and has to file Return whether there is Loss or Income

Dear Bhavik, Section 139(4A) warrants filing of return by a trust only when its total income exceeds the maximum marginal limit. For this purpose, the word 'total income' refers to the income without giving effect to the provisions of Section 11 and 12. However, in cases where income is set apart for future purposes then unless the returns are filed in time how the same can be claimed? Will any one clarify this doubt? With regards.

respected all,

plz help me .......................... !

 

i have a turst whos income tax return is filed regurlarly and within time limit - from last several years - but from last 2-3 trust is in loss.

 

in current year trust is in profit.

 

my question is can we set off this loss in the current or not ............ ?