06 July 2013
1. Letter of appointment as auditor from the trustees and acceptance thereof. . 2. Audit report to be filed on or before 30th September. . 3. 85% of Income (Receipts) to be "applied" for charitable purpose if it is registered with CIT. . (The meaning of "applied" is very wide). . 4. If not regd.; maximum marginal rate of tax will be chargeable. . 5. Without expert knowledge; "handsome" troubles may arise "after conducting" such work.
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