About This Service
- Maximum tax exemption utilization under applicable sections
- Accurate and timely filing of trust returns
- Full compliance with Income Tax Act provisions
- Reduced risk of cancellation of exemptions
- Proper structuring of donations and corpus funds
- Expert handling of audit and reporting requirements
- Transparent financial reporting for donors and authorities
- Long-term compliance stability for trusts
Eligibility & Criteria
- Applicable to private trusts, charitable trusts, and religious trusts
- Covers registered and unregistered trusts under Income Tax Act
- Based on applicability of Sections 11, 12, 12A, and 12AB
- Subject to audit requirements under specified thresholds
- Includes income from donations, investments, and assets management
- Compliance depends on trust structure and purpose
Penalties & Due Dates
| Non-Compliance Area | Applicable Penalty |
|---|---|
| Late Income Tax Return Filing | Late fees + loss of exemptions |
| Non-compliance with 12A/12AB Conditions | Cancellation of exemption status |
| Improper Fund Utilization | Taxability of entire income + penalties |
| Failure to Maintain Books | Penalty + scrutiny risk |
| Non-filing of Audit Report | Disallowance of exemptions |
| Incorrect Reporting of Donations | Tax demand + legal consequences |
