Trust Audit without having 80G & 12A

Others 144 views 1 replies

Somit Srivastava

IPCC

129 Points Joined July 2012

Dear Sir/Madam,

If we have trust registration and we do not have 80G or 12A exemption in this case my total contribution received is Rs 40lac and profit is coming only 14000/- do we need to do audit?

We can file ITR-5 without audit but maintain books of account. Please clarify

Replies (1)

Tanuj Chandra Saxenaa

Company Secretary

7085 Points Joined March 2014

In Case Of Trust if you don't have 80g Or 12a you need to file either ITR 5 or 7 with Statutory Audit. Trust will not get exemption u/s 11 and 12 for the year until it files income tax return and audit report. In case any help u can inbox me