Filing of income tax returns of a trust

Efiling 196 views 1 replies

A Trust registered under section 12A has gross receipts less than the taxable limit ie Rs.2.50 lakhs

Income Tax has not been filed before due date ie., 31st July 2016

The Trust now desires to file belated return.  

Will there be any consequences due to late filing of IT return.   

Thanks,

Maheswar

 

 

Replies (1)

There may be levied a penalty of Rs. 100 per day under section 272 during the period of default. It is suggested you file its return as early as possible.


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