Regarding itr7

19 March 2020

A Trust has filed itr 7 after due date for AY 2018-19 but now CPC has raised a demand without giving exemption . how to rectify it

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4 Replies

(Guest)

If the Trust had made accumulation u/s 11(2) then return has to file compulsorily on and before due date otherwise exemption will not be allowed.

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 19 March 2020

TRUST must filed the return before due dates to avail the benefits of exemption i/s 11 & 12 .

(Guest)

Yes from A.Y. 2018-19 trust shall file ROI on and before due date in order to avail exemption under sec 11 & 12.

tejaswi nooli (54 Points)
Replied 19 March 2020

There is any possibility to take exemption

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