Vide Finance Act, 2017 the entities Charitable Trust registered under Section 12AA are required to file Income Tax return. Income tax return for Charitable Trust in mandatory if total income exceed basis exemption. The basis exemption limit is Rs. 2.50 Lac for Assessment year 2017-18 to AY 2019-20. In case income tax return is not filed as per section 139(4A) with in time allowed then Charitable Trust would loose exemption under section 11 and 12. The due date for filing income tax return of Charitable Trust is 30 September if audited if not then 31 July in all other cases. Where Charitable Trust required to furnish audit report as per Transfer Pricing Section 92E due date for return will be 30th November.

Charitable Trust not filing income tax return in due date loses its exemption. Trust could revise income tax return as per section 139(1) if it discovered that there has been error or mistake. Trust can revise return within one year from end of relevant assessment year. Same shall apply to educational and medical institutions, scientific institutions, notified trust, trade unions, news agencies etc.