AUDIT REPORT

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2011 I HAVE AUDITED A TRUST WHOSE GROSS RECEIPTS IS MORE THAN Rs. 70 LACS. SO I HAVE TO GIVE TAX AUDIT REPORT. SHOULD I GIVE 3CA OR 3CB ALONG WITH 3CD? IT IS NOT REGISTERED U/S 12 A. SO IS IT NECESSRY TO GIVE REPORT 10B?

Praveen Sharma

Praveen Sharma (Expert)
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24 February 2011 yes, have to report 10B

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 February 2011 The institution is not registered u/s 12A. Therefore, audit report in Form 10 B is not necessary.
The status of the auditee is AOP, not trust. If the auditee is not doing any business, audit report in form 3CB followed by particulars in form 3CD is also not required.

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M KRISHNAKUMAR

M KRISHNAKUMAR (Expert)
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24 February 2011 only if the provisions of Sec 12A is applicable then, report in form 10B is required. ( pl refer sec 12A(b) read with Rule 17B )here report is not applicable. Further Form 3 CB & 3CD reqd only if it is gross reciepts from business. Hence the same also not reqd. I fully agree with the view expressed by B C Warrier

Querist : Anonymous

Querist : Anonymous (Querist)

25 February 2011 THANKING ALL FOR THE VALUABLE SUGGESTIONS. ACTUALLY THE TRUST IS RUNNING A SCHOOL AND WHOSE GROSS RECEIPTS IS MORE THAN RS 60 LACS. SO IN THIS CASE SHOULD I GIVE TAX AUDIT REPORT IN FORM 3 CB & 3CD.