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Tax audit for charitable trust
Is tax audit compulsory for a charitable trust? if not then why?
Replies (2)
A trust having total income (before exemption u/s. 11 and 12) exceeding the maximum amount (250000/-) not chargeable to tax must have its accounts audited by a C.A. Audit is compulsary to qualify for exemption u/ss. 11 and 12.
but tax audit u/s 44AB is not applicable unless it is doing business
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