Is it compulsory for every trust to get redg under it act ?
This query is : Resolved
21 November 2011
hello everyone,
one of my friend is practicing CA. there are many of client which are trust.
He submits audit report to the commissioner of Bombay Public trust Act
He does not submit any return in the income tax nor trust are registered under income tax act. No tax is paid under income Tax.
is the treatment correct.
one of my friend is practicing CA. there are many of client which are trust.
He submits audit report to the commissioner of Bombay Public trust Act
He does not submit any return in the income tax nor trust are registered under income tax act. No tax is paid under income Tax.
is the treatment correct.
21 November 2011
No,filing of income tax return every year by the trust is compulsary.He has to obtain PAN No in the name of the trust.
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