
Dear Professional Seniors & Friends,
Warm Greetings!
Here is the Next post of #MCQ on concept based practical professional knowledge on due date of Return for Charitable Trust in a unique manner to be self answered by participants. The detailed answer of these MCQs shall be posted next day for the self assessment of the participants.
MCQ 61.1: ABC trust is a charitable trust registered under sec 12A of Income Tax Act. During the F.Y. 2017-18, its gross receipts in the form of member contributions is Rs 20 Lakhs. Due date to file Income Tax return will be
A) 31st July as it is not required to get it’s accounts audited.
B) 30th September as it is required to get it’s accounts audited.
C) 30th September if it wants to claim exemption under Section 11 or 12.
D) None of the above.
MCQ 61.2: What if in the above question, ABC trust is not registered as charitable trust under Income Tax Act.
A) 31st July as it is not required to get it’s accounts audited.
B) 30th September as it is required to get it’s accounts audited.
C) 30th September if it wants to claim exemption under Section 11 or 12.
D) None of the above.
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CA Sanjay Kumar Agrawal
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Dear Professional Seniors & Friends,
Warm Greetings!
This post of MCQ is on provisions relating to due date of Income Tax Return for charitable trusts.
Answer to MCQ 61.1: C) 30th September if it wants to claim exemption under Section 11 or 12.
Answer to MCQ 61.2: A) 31st July as it is not required to get it’s accounts audited.
Practical Analysis for MCQ 61.1& 61.2:-
1) | Any assessee who is required to furnish report of transfer pricing under Section 92E | 30th November of the A.Y. |
2 | Companies | 30th September of the A.Y. |
3) | Audit requirement under Income Tax Act or any other law | 30th September of the A.Y. |
4) | Working partner of firm whose accounts are required to be audited | 30th September of the A.Y. |
5) | Others | 31st July of the A.Y. |
(Disclaimer: The objective of the MCQ post is just to discuss the concept, it may happen, by change of facts, the answer may be different. Please do not treat this as professional opinion; you can definitely have your own opinion.)
Sincere Regards!
CA Sanjay Kumar Agrawal
Mobile: 9810116321
To access MCQ posts regularly, please Join Telegram Channel:
https://t.me/caSanjayKumarAgrawal
For All MCQ post please click on:
Webpage: http://www.casanjay.me/
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Linkedin: https://www.linkedin.com/in/ca-sanjay-kumar-agrawal/
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