kaushal kumar (student) (67 Points)
28 August 2010Good Evening to all
Please help me. A Charitable Trust/NGO getting Donations and Fund form different organinstion for community welfare and specific work. Its total receipts exceeds Rs, 40 Laks. Whether it will be liable for tax audit under section 44AB of Income tax act?
Thank You.
GAURAV JAIN
(C.A. F!N@L Group-1 Clear...)
(278 Points)
Replied 28 August 2010
vpr99
(Manager-Accounts&Finance)
(68 Points)
Replied 02 September 2010
I think cahritable trust must be get audited its books of accounts bcoz the maximum limit exceeded as per sec 44ab
GAURAV JAIN
(C.A. F!N@L Group-1 Clear...)
(278 Points)
Replied 03 September 2010
section 44AB is not applicable on charitable trust...
CAclubindia
