Trust audit

Somit Srivastava (IPCC) (129 Points)

21 January 2019  

Hi All,

If Un-register trust (Un-register under 11 & 12A Sec. of IT Act 1961) received donation from Public in FY 2017-18 is Rs 30lac.

And after all expenses paid the net profit is Rs 2,43,000/- which is more than 8% of donation receipt in FY 2017-18 (30lac x 8% = 240000/-)

So, in that case audit is compulsory or not please let us know as earliest.

Quick response is really appreciated.

Thanks