30 June 2010
Whether Tax Audit under Section 44AB of Income Tax Act, 1961 is required for a trust which is registered under Section 12AA if the income of trust has exceeded Rs. 40L in the previous year?
30 June 2010
I'm concerned with FY 2009-10. My question is whether Tax Audit is required to be done if a trust is doing only charitable activity and no business activity.
30 June 2010
Section 44AB can not be applied to Trust. In Section 44AB tax audit is for business or profession whereas a trust neither carry profession nor engage itself in any business.
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