Dear All,
If Un-register trust (Un-register under 11 & 12A Sec. of IT Act 1961) received donation from Public in FY 2018-19 is Rs 1cr.
And after all expenses paid the net profit is Rs 8,15,000/- which is more than 8% of donation receipt in FY 2018-19 (1cr x 8% = 8,00,000/-) So, in that case audit is compulsory or not please let us know as earliest.
CAclubindia
