pls ans it
-TRUST IS CHARITABLE AND RELIGIOUS TRUST
-TRUST IS ALREADY REGISTERED UNDER INCOME TAX FOR EXEMPTION OF 11 & 12
-TRUST RECEIVE DONATION IN FINANCIAL YEAR 2008-2009 OF RS. 560000/- AND EXPENSES OF THE TRUST IS 450000/-
- FOR AUDIT OF TRUST TOTAL INCOME EXCEEDS 150000/ WHAT IT MEAN WHETHER WE SAY CAN THAT AUDIT IS COMPULSORY BECOZ RECEIPTS IS 560000>150000 OR NO AUDIT REQUIREMENT BECOZ TOTAL INCOME 110000<150000/-
ACTUALLY I AM CONFUSED TO DETERMINE THE CRITERIA FOR AUDIT WHAT IS THE MEANING OF TOTAL INCOME IN CASE OF TRUST.
PLS ANSWER THE ABOVE WHETHER AUDIT IS COMPLUSORY OR NOT AS PER INCOME TAX ACT.
CAclubindia
