Charitable trust
This query is : Resolved
04 December 2014
for audit of trust surplus amount is considered ie Income -expenditure or the income shown in credit side of income and expenditure account.
Further according to provision total income exceeds witout giving effect of section 11 and 12 exceed taxable limit then audit is required.So my question is whether total income will be surplus part or the income credited in income and expenditure account.Kindly reply.
Further according to provision total income exceeds witout giving effect of section 11 and 12 exceed taxable limit then audit is required.So my question is whether total income will be surplus part or the income credited in income and expenditure account.Kindly reply.
04 December 2014
it means gross income without any deduction or claiming any exemption.
04 December 2014
can u please elaborate the provision
where gosss income word has been used
where gosss income word has been used
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