alleryStart learning →Income above the exemption limit before section 11 relief needs what under 12A(1)(b)?
AAccounts cleared by SEBI
BA valuer for all assets
CTen trustees at least
DAudit by an accountant
Answer & Solution
Correct answer: D. Audit by an accountant
Where income exceeds the amount not chargeable to tax, section 12A requires audited accounts and the audit report.
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