Audit Report in Form 10B Not Required For Registration of Trusts U/s 12AA
It is common for the income tax department to ask for audit report in form 10B from an applicant trust or society who file...
Charitable Trust or Society : When is Filing of Return or Getting Accounts Audited...
I am often asked by readers or tax professionals about registering an NGO or trust or a society with the Income Tax Department exemption wing...
Form 10B ( Audit Report ) can be Obtained after the Due Date...
This article loses its value on account of amendment vide Finance Act 2018 by which the new insertion in section 12A...
Setting up an NGO ?Which Form –Society or Trust or Company – is the...
An NGO (Non Governmental Organization) is usually formed for the charitable or social work. In India, an NGO can be formed under three types...
Charitable Trust : How Taxed If Lost Exemption u/s 11 & 12 ?
We all know that the charitable trusts get the tax exemption under section 11 and section 12 . So , if charitable trust is...
Charitable Trust Can File Form 10B Any Time Before Assessment !
As per Income Tax Act, it is mandatory for charitable trust to file audit report , but filing of audit report by trust is...
Charitable Trust : Status ,Tax Rate & Audit of Accounts Simplified !
I am often asked this simple question about charitable trust - where is the tax rate applicable to a charitable trust and if a...
Accumulation by Trusts @ 15% on Gross Receipts or on Net Income?
A trust gets exemption under section 11 & 12 read with section 13 of the Income Tax Act. There are many conditions which are...
Create Private Trust for Daughter or Handicapped Children : Why & How
Creating Private Trust can be good future planning for any child, wife or loved ones about whom you may be concerned with questions like...
Tax Planning Through Private Trust :5 Mistakes to Avoid
In the past, creating private trust for tax saving was so rampant , that government was forced to bring in amendments and provision under...
