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Trust Income Tax
Trust ki income 8% se kam dikha sakte hain?
Replies (12)
Quick Summary
As per my knowledge 44(AD) not applicable to trust .plz correct if I am wrong
Trust need to be audited and fill return on itr 7
@ ayusmita The trust is not registered U/s 12A/12AA
Trust should be not be allowed to show profit less than 8% as your trust is not registered your trust is not allowed to 8% profit
Thanks
File itr 7 with out taking the a
@ ayusmita Unregistered trust can't file ITR-7, they can file only ITR-5
Sorry type nehi hua half mei click ho gaya
is it a business trust
44AD is not applicable to Trusts ( including business trusts) so question of 8% presumptive taxation does not arise.
As it's un-registered, it will be filed as AOP or BOI ... and ITR 5.
As it's un-registered, it will be filed as AOP or BOI ... and ITR 5.
Sometimes business trust are liable for itr 5 with certain rules and regulations
so asked him
more over he is not liable for itr 7
even if file not take any exemption
so asked him
more over he is not liable for itr 7
even if file not take any exemption
Whether expenses made by trusts are deductible if not registered under 12A or income tax is directly chargable on revenue earned?
Yes, expenses are deductible. You require to justify when asked.
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