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Audit of Cheritable institution and 12A & 80G registration

Aditya Mishra (Student) (75 Points)

20 September 2019

Is the audit of Cheritable Society by CA required irrespective of turnover? Can we apply for 12A & 80G registration with last 3 years compiled financials statement?

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sabyasachi mukherjee (27574 Points)
Replied 20 September 2019

Yes audit of charitable trust are subject to audit u/sec 11 if more than 85% of the receipts are utilized for the objects then the balance is not taxable.
the charitable trust must obtain exemption certificate as per notified donations mentioned in Sec 80G .
obviously it must obtain registRation u/sec 12A.
THE BASIC THRESHOLD LIMIT OF RS.250000 is applicable.

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Aditya Mishra (Student) (75 Points)
Replied 20 September 2019

I am asking about audit requirement for Non 80G &12A registered organisation

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Replied 21 September 2019

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