12 September 2013
Efiling ITR7 mandatory if trust is liable to tax audit,,and at the same time filing of tax audit report also mandatory
Relevant notification is NOTIFICATION NO. 42/2013 [F.NO.142/5/2013-TPL]/SO 1513(E), DATED 11-6-2013
As per above notification Every organization which is registered with Income Tax Department u/s. 12A to avail tax exemption, need to file e-Return (ITR-7) compulsory along with audit report for Assessment Year 2013-14. (Accounting Year 2012-13)
Kindly Note Relevant Notification is 42/013,,And Not 34/2013 . . . In Notification no.34/2013,,It was Specifically provided that This 5 lakhs limit NotApplicable to trusts . . Vide 2nd point and point C(Sub rule 3 to proviso) . . So relevant Notification is 42/2013 and Condition as specified in above reply by me
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