If trust is not able to utilise accumulated fund before completion of time period of 5years what will be the consequences and is it necessary to make a proviosion for tax in books of accounts in the current year? If we make a proviosion for tax in books of accounts the profit will convert into loss is it right than to make a provision for tax?
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Trust Query
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I think he has 1 year more to utilize. refer wording s of section
Is it Mandatory to submit audit report in 10B, if the trust is not register under sec12A.
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