Regarding itr7

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54 Points Posted on 19 March 2020
A Trust has filed itr 7 after due date for AY 2018-19 but now CPC has raised a demand without giving exemption . how to rectify it
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On 19 March 2020 at 15:12 Report
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This discussion addresses a Trust that filed its ITR 7 after the due date for AY 2018-19, resulting in a demand from the CPC without exemption. It clarifies that for AY 2018-19 onwards, filing the Income Tax Return (ITR) on or before the due date is mandatory for Trusts to avail exemptions under sections 11 and 12, especially if accumulation under section 11(2) was claimed.

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If the Trust had made accumulation u/s 11(2) then return has to file compulsorily on and before due date otherwise exemption will not be allowed.
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On 19 March 2020 at 16:39
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Chartered Accountant
12739 Points Posted on 19 March 2020

TRUST must filed the return before due dates to avail the benefits of exemption i/s 11 & 12 . 

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On 19 March 2020 at 16:50
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Yes from A.Y. 2018-19 trust shall file ROI on and before due date in order to avail exemption under sec 11 & 12.
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On 19 March 2020 at 17:50
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54 Points Posted on 19 March 2020
There is any possibility to take exemption
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On 19 March 2020 at 20:31

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