Can Anybody tell me the limit for the applicability of Audit Report uder Form No.10B in the case of a trust.. What is Maximum amount not chargeable to Tax...? Is it Rs.1,60,000.00...? Earlier it was Rs.50,000.00...
Ramees (CA Final Student) (87 Points)
17 September 2010Can Anybody tell me the limit for the applicability of Audit Report uder Form No.10B in the case of a trust.. What is Maximum amount not chargeable to Tax...? Is it Rs.1,60,000.00...? Earlier it was Rs.50,000.00...
CA Vinay Gandhi
(CA)
(858 Points)
Replied 18 September 2010
In case of trust, If trust wants to claim exemption u/s 11 & 12, Audit is compulsory.
Ramees
(CA Final Student)
(87 Points)
Replied 18 September 2010
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