08 September 2019
Sir During year 2017 18 registered trust having excess of expenditure over income of the trust. Excess expenditure incurred from earlier periods surplus fund(trust usually incurred expenditure upto 90% of income in earlier periods). Now my question is what should be considered as application of income in Income tax return 1. Actual expenditure incurred during the year or 2. Expenditure equally to income of fy 2017 18.??
09 September 2019
the option of excess spending out of earlier surplus not selected while filing return of income and notice received u/s 143(a) now what is advisable
CAclubindia
