CAN YOU PLEASE HELP ME IN ANSWERING THE FOLLOWING QUESTIONS. 1. WHETHER AN UNREGISTERED TRUST CAN FILE ITR UNDER AOP STATUS,since the trust have earned income from business and want to declare profit of Rs. 125,000/- where the total income is about 85,00,000/- ? 2. if yes whether it would be liable to 44ab ?
12 December 2017
Thank you sir for your answer. However I would like to know, is there no requirement of audit under any section?? do you mean that just filing of ITR is enough ?
12 October 2021
Correct, no tax audit applicable, as sec 44AD not applicable to AOP while for tax audit u/s. 44AB, the turnover limit is 1Cr. So, only normal filing of return under ITR 5.
CAclubindia
