trust

dasd (Querist) 22 December 2009 This query is : Resolved
whether ausit of trust is reqd under any other law other than IT act (sec 139(4A)

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Raj Kumar Makkad (Expert) 22 December 2009
yes.

A V Vishal (Expert) 23 December 2009
No there is no audit specified under the Indian trust Act or any other existing law in force other than Income Tax Act.

soumitra basu (Expert) 23 December 2009
If you are receiving Foreign Aid, then your books of accounts should be audited. Moreover, if it is public trust the books of accounts should be audited.
If this trust is running educational institution then also the books of accounts should be audited for affiliation and other different purpose.

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