whether to file ITR every year or not

[swarupa mohanty]

Sir,

The assessee is a Recognized Provident Fund Trust duly approved by the CIT, thus exemption u/s 10(25)ii of the Income Tax Act,1961.

Qus - a. whether the trust has to file ITR every year or not ?

b. The assessee had inadvertently e-filed the return by not claiming the exemption u/s-10(25)ii , resulting to a demand raised by CPC what cause of action available ?

AI Summary

Provident Fund Trust Needs to File Annual ITR to Avoid CPC Demands; Consult Professionals for Section 10(25)ii Exemption Issues. A recognized Provident Fund Trust, approved by the CIT, sought advice on whether it must file an Income Tax Return (ITR) annually and how to address a demand from the CPC due to not claiming an exemption under section 10(25)ii. The response suggested that filing returns is essential, and errors are common. It recommended consulting a professional or explaining the situation to the tax authority to resolve the issue.