Charitable trust
This query is : Resolved
27 December 2011
A client of mine is a trust having PAN and registered with the registrar of Trusts but not under sec.11 of Income Tax.
I understand that the trust is not entitled to claim any exemption u/s 11 & 12...Right?
What would be the Audit Provisions for the trust? section 44AB or 12A(b)?
I understand that the trust is not entitled to claim any exemption u/s 11 & 12...Right?
What would be the Audit Provisions for the trust? section 44AB or 12A(b)?
29 December 2011
Where the trust is having business income and not intending to claim any exemption U/s 11 & 12, audit u/s 44AB should be applicable.
Provisions u/s 12A(b) is applicable only if the trust is having intention to claim exemption U/s 11 & 12.
Provisions u/s 12A(b) is applicable only if the trust is having intention to claim exemption U/s 11 & 12.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
