Query about trust

Whether the Trust created by you is a Public or Private is not known. ITR-7( presently Manual return is only allowed-No e’filing) is to be filed U/s139(4A) of IT Act by trustees of charitable or religious trusts if the total income of trust exceeds the minimum amount which is chargeable to income-tax without giving effect to provisions of Section 11 and 12.

Also, trusts/institutions whose income is exempted U/s 11 and 12 of IT Act are also required to file a return.The return of income has to be filed along with the audit report submitted by chartered accountants in Form 10 B after auditing accounts of various trusts/institutions.

In your case of the Trust ,registered in1996, You may proceed to file the required ITR s now, as there are NO activities in the earlier years.Regards.

WHAT IS THE PROCEDURE FOR CREATING A TRUST?

PLZ REPLY SOON

Plz Download The File , Issued by ICAI.

Include All Details About Trust

Thank You Mr Ayush and Thank You Prasad Sir...

To Prasad Sir,

So you mean trust has not made any default by not filing ITR and not conducting Audit since it has not carried out even a single transaction...

Am I right?

yes you are reght Mr. Darshak