Form 10B Audit Report the audit report that protects your exemption.
Form 10B is the audit report required from charitable trusts, NGOs, and Section 12AB-registered entities with total income above the prescribed threshold or with foreign income. Filed late or filed wrong, the exemption under Section 11 is on the line.
Form 10B is the audit report under Rule 17B of the Income Tax Rules, prescribed for trusts and institutions registered under Section 12AB (formerly 12A/12AA) that fall within specified parameters — total income before exemption above ₹5 crore, or any foreign income or contribution, or income applied outside India. It is a separate, more detailed audit report than Form 10BB and must be filed at least one month before the due date of return filing.
The form is not just a signature on the accounts. It calls for detailed disclosures on objects of the trust, income applied for charitable purposes, accumulation under Section 11(2), corpus donations, anonymous donations under Section 115BBC, related-party transactions with specified persons under Section 13(3), foreign contributions, and use of property held under trust. Each schedule has its own implications for exemption.
Our Form 10B practice combines trust audit expertise with technical Income Tax knowledge. We perform the underlying audit under Section 12A(1)(b), verify income application, scrutinise Section 13 violations, examine accumulation utilisation, and file Form 10B online before the deadline — with all schedules completed accurately to protect the trust's Section 11 exemption.
Our Form 10B Services
Underlying Trust Audit
Statutory audit of books under Section 12A(1)(b) with full verification of income, application, and corpus.
Income Application Review
Verification that 85% of income is applied for charitable purposes during the year or accumulated under Section 11(2).
Section 13 Compliance Check
Detailed examination of transactions with specified persons under Section 13(3) and Section 13(1) violations.
Foreign Income & FCRA Review
Treatment of foreign income, FCRA receipts, and foreign application as required in Schedule disclosures.
Corpus & Accumulation
Verification of corpus donations, accumulation under Section 11(2), and timely Form 10 filing.
Anonymous Donations
Identification and tax treatment of anonymous donations under Section 115BBC at 30% special rate.
Form 10B Online Filing
Filing of Form 10B on the e-filing portal with DSC at least one month before due date of return.
ITR-7 Coordination
Coordination with ITR-7 filing to ensure Form 10B data flows correctly into the return.
Our Form 10B Workflow
Audit Engagement
Engagement letter, trust document review, registration verification, and audit planning.
Books & Records Audit
Full audit of receipts, application, corpus, investments, and Section 13 transactions.
Schedule Compilation
Compilation of all 10B schedules including foreign income, accumulation, and related party.
Online Filing
Online filing of Form 10B with DSC at least one month before the ITR-7 due date.
ITR-7 Filing
Coordinated filing of ITR-7 with Form 10B data and supporting computation.
Why Get Form 10B Right
Frequently Asked Questions
Form 10B is the audit report under Rule 17B for charitable trusts and institutions registered under Section 12AB with total income above ₹5 crore, foreign income, foreign contributions, or income applied outside India.
Form 10B must be filed at least one month before the due date for filing ITR-7 — i.e., typically by 30th September if return is due 31st October.
Late filing of Form 10B can lead to loss of exemption under Section 11 for that year, attracting tax at maximum marginal rate. Condonation of delay can be sought from the CBDT in genuine cases.
Form 10B applies to large trusts (income above ₹5 crore, foreign income, etc.); Form 10BB applies to smaller trusts and educational/medical institutions under Section 10(23C).
Only a Chartered Accountant in practice can sign Form 10B as the auditor of the trust or institution.
Trust With Income Above ₹5 Crore?
Form 10B is mandatory and the deadline is firm. Talk to our trust audit team for a thorough audit and timely 10B filing that protects your exemption.
Get Form 10B Filed or call +91 9819 000 511