Whether it is mandatory for a trust to file return of income?
It is mandatory for a trust referred to in Sections 139(4A), 139(4C), 139(4D) and 139(4E) to file the return of income.
Sections 139 (4A): Return of Income of Charitable Trusts and Institutions
Section 139 (4C): Mandatory Filing of Returns by Scientific Research Associations, News Agency, Trade Unions, Etc.
Section 139 (4D): Mandatory filing of Returns by Universities, Colleges Etc.
Section 139 (4E): Filing of Return of Income by a Business Trust
Further, a trust (not covered in above provision) is required to file return of income if its gross total income exceeds the maximum amount which is not chargeable to tax.
Which form shall be used to file return of income?
A trust who is required to furnish return of income in accordance with provision of Sections 139(4A), 139(4C),139(4D) and 139(4E) shall file return in ITR 7 otherwise in ITR 5.
Whether e-filing of return is mandatory for a trust?
It is mandatory for a trust to file return of income electronically with or without digital signature. A trust may also file return of income under Electronic Verification Code. However, a trust liable to get its accounts audited under section 44AB shall furnish the return electronically under digital signature.
Due dates for filing of return?
The due dates of filing of return by a trust are as follows:
|September 30 of the assessment year|
| November 30 of the |
| July 31 of the |