Trust Audit Report Form 10B

There is no specific format.  The assignment can be a compilation engagement which can be carried out in accordance with the Standard on Related Services (SRS) 4410, “Engagements to Compile Financial Information”, issued by the Institute of Chartered Accountants of India.  This format shall be amended for the accounts staring from 1 April 2019.

Read more at: https://www.caclubindia.com/forum/trust-audit-report-form-10b-394349.asp?offset=2

Dear Sir

Here is rectification order u/s 154  by CPC Bangalore

Password to open  -  aacas0464k05032003

There is no specific format. The assignment is not a statutory audit and hence a compilation engagement to be carried out in accordance with the Standard on Related Services (SRS) 4410, “Engagements to Compile Financial Information”, issued by the Institute of Chartered Accountants of India.  This Standard shall change for accounts commencing the period 1 April 2019.

There is no specific format. The assignment is not a statutory audit and hence a compilation engagement to be carried out in accordance with the Standard on Related Services (SRS) 4410, “Engagements to Compile Financial Information”, issued by the Institute of Chartered Accountants of India.  This Standard shall change for accounts commencing the period 1 April 2019. 

 

TO CLAIM EXEMPTION UNDER SECTION 11 FROM AY 2017-18 YOU NEED TO FILE AUDIT REPORT FORM 10B ON DUE DATE. MAKE MY WORD UPLOADING AND APPROVAL BY ASSESSEE SHOULD BE ON OR BEFORE DUE DATE OTHERWISE WAIT FOR DEMAND FOR THE SAME. IT WAS EARLIER HAPPENING THAT IF YOU UPLOAD AUDIT REPORT EVEN LATE THEN NO PROBLEM WAS HAPPENING . BUT FROM AY 2017-18 YOU NEED TO UPLOAD AND APPROVE TIMELY IT.

No.   Only the Associations or Trusts registered u/s 12AA can file audit report in Form No.10B.

CAN WE REVISE 10B AUDIT FORM IF ORIGINAL FILED IN TIME. IF YES PLEASE TELL HOW?

There is no specific Form.

IF the income is below 2,50,000 and I want to Audit under 10B ..So can I do?

IF the income is below 2,50,000 and I want to Audit under 10B ..So can I do?

Dear Sir,
I have read your replies and deeply respect your knowledge and opinions.  

Sir, in my particular case, a 12A Regd Educational Institution filed its returns ITR7 & 10B for FY 2015-16 late.  The school had gross receipts of Rs. 10 lakhs and Expenditure of 12 Laks (approx) i.e. deficit of Rs. 2 Laks.   However, CPC issued Order U/s 143(1) and demand notice @ 30% plus interest on entire 10 Lakhs ! Sir even if benefit of 12A is not allowed due to late filing, can CPC tax the entire gross receipts ? (consisting School Fees Interest Income and Grants from Govt) Will 100% of the expenses be disallowed ? What can be a remedy ? 154 online or CIT(A) against 143(1) of CPC ? Is our contention tenable ? Please guide and advise what grounds of appeal / course of action to adopt.

Thanking you in Advance and With due regards