ICAI issued Technical Guide on Audit of Charitable Institutions under Sec 12A of IT Act 1961
A charity institution must meet certain requirements according to Section 12A in order to be eligible for the exemptions under Sections 11 and 12. Section 12A also allows the trust to have an audit performed on its books of accounts in order to receive an exemption. A technical manual for the audit of charitable institutions under Section 12A has been released by the ICAI. It instructs chartered accountants on how to efficiently carry out the audit.
To Read Technical Guide – Click Here