A and in the prescribed manner to the Commissioner. Where the total income of the trust/institution without giving effect to the provisions of sections 11 and 12 exceeds Rs. 50,000/-, the accounts of the trust must be got audited by a Chartered Accountant, and the person in receipt of the income should furnish along with the return of income the report of such audit in Form No. 10B.
2.1. The Commissioner is vested under section 12AA with power to call for all necessary evidence and satisfy himself about the genuineness of the activities of the trust or institution before registering the same. Thus it is evident that the Application for Registration of a trust/institution is scrutinized before granting exemption under sections 11 and 12. 2.2. A limit of Rs. 10,00,000/- is suggested for trust/institution whereas in the case of educational/medical institution the said limit of gross annual income is suggested as that of Rs. 1,00,00,000/-. [demime 0.98e removed an attachment of type application/octet-stream which had a name of respect.exe] ----------------------------------------------------- This mail is generated from http://www.jesusyouth.org To subscribe to this mailing list send a mail to [EMAIL PROTECTED] To unsubscribe from the list send a mail to [EMAIL PROTECTED] -----------------------------------------------------
