One of our client Trust not registered under 12AA so we prepared ITR 5 instead of ITR 7 but In the form ITR 5 basic exemption limited upto 2,50,000/- not considered for AOP,its calculate tax @ 30% flat. how do we file ITR 5 with consideration of basic exemption limit?
1 Replies
CA S Praveen Kumar Reddy
(Chartered Accountant)
(2195 Points)
Replied 24 May 2018
AOP basic exemption not applicable when member crossed Basic exemption limit
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