E-filling of trust

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

27 March 2016 Please advise which ITR is to be filled for trust (employees Provident fund trust which is recognized under income tax ) whose income is totally exempt u/s 10(25)(ii). I have tried with ITR 7 but in drop down list of exemption under section 10, clause 25 is not there. please help

CA SANJEEV KUMAR MAHAJAN

CA SANJEEV KUMAR MAHAJAN (Expert)
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27 March 2016 Hi,
ITR 7 does not apply to Recognized Provident Fund. Actually Provident Funds are not required to file ITR u/s 139 as their income is totally exempt u/s 10(25).
They Normally file return only to claim refund of TDS wrongly deducted on Interest Income. Hence you can only file ITR 5 as AOP

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Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2016 Thanks sir for your valuable suggestion. can u please explain is it optional or mandatory to file ITR 5 in this case and if one not file the same, what are the consequences.

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Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2016 Thanks sir for your valuable suggestion. can u please explain is it optional or mandatory to file ITR 5 in this case and if one not file the same, what are the consequences.