Trust IT Filing

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73 Points Posted on 07 February 2021
It is mandatory for a trust to file IT return if a trust earns interest income below 2.5 lakhs?
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On 07 February 2021 at 20:59 Report
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This discussion clarifies whether a trust must file an Income Tax (IT) return if its interest income is below £2.5 lakhs. Generally, a trust is not required to file if its income is below the maximum amount not chargeable to tax, even before claiming exemptions under sections 11 and 12. The conversation also touches upon the implications of registration under sections 12AA and 80G.

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3924 Points Posted on 07 February 2021
Is trust registered under section 12AA and 80G of Income tax act 1961 ?.
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On 07 February 2021 at 21:18
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73 Points Posted on 07 February 2021
No currently it is not, but please explain what if they where registered also.
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On 07 February 2021 at 21:22
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Chartered Accountant
24588 Points Posted on 07 February 2021
Not required to file ITR
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On 07 February 2021 at 22:22
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PROPRIETOR
862 Points Posted on 08 February 2021

Trust is not required to file ITR if its income is below maximum amount not chargeable to tax i.e. below 250000 before claiming exemption u/s 11 and u/s 12.

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On 08 February 2021 at 11:02

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