The Classic Partners LLP

Audit Under the Trust Act

Statutory audit and compliance support for public charitable and religious trusts under the applicable Public Trusts Act. We help trustees keep accounts accurate, file on time, and stay fully compliant with the Charity Commissioner and the Income Tax Department.

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What is a Trust Audit?

A trust audit is the independent examination of a public trust's books of account, receipts, payments, and balance sheet by a Chartered Accountant. Public charitable and religious trusts whose income or gross receipts cross the threshold prescribed under the relevant Public Trusts Act are required to have their accounts audited every financial year and reported to the office of the Charity Commissioner.

Trusts registered under Section 12A/12AB of the Income Tax Act must also obtain an audit report in the prescribed form (such as Form 10B or Form 10BB) to continue claiming exemption on their income. Our team handles both the Trust Act audit and the related income-tax compliance under one roof.

Who Needs an Audit Under the Trust Act?

Public charitable trusts registered with the Charity Commissioner.
Religious and devasthan trusts maintaining temple or institution funds.
Educational, medical, and relief trusts receiving donations or grants.
Trusts registered under Section 12A/12AB claiming income-tax exemption.
Trusts receiving foreign contributions and reporting under FCRA.

Our Trust Audit Services

Statutory Trust Audit

Examination of accounts and preparation of the audit report and schedules required by the Charity Commissioner.

Income Tax Audit for Trusts

Audit reports in Form 10B / 10BB to safeguard exemption under Section 12A/12AB and 80G.

Accounting & Book-Keeping

Maintenance of receipts & payments, income & expenditure, and corpus/earmarked fund records.

Annual Compliance Filing

Filing of accounts, change reports, and annual returns with the Charity Commissioner's office.

12A & 80G Registration

Fresh registration and renewal support so donations remain tax-deductible for your donors.

Advisory & Governance

Guidance on trustee duties, fund utilisation, and internal controls to reduce compliance risk.

Why Choose The Classic Partners

Specialised experience with charitable, religious, and educational trusts.
End-to-end compliance — Trust Act audit and Income Tax filings handled together.
Timely reporting so you never miss a Charity Commissioner or filing deadline.
Transparent fees and a dedicated point of contact for trustees.

Frequently Asked Questions

Is a trust audit mandatory every year?

Yes. A public trust whose income or gross receipts exceed the limit prescribed under the applicable Public Trusts Act must have its accounts audited by a Chartered Accountant each financial year, and the report must be submitted to the Charity Commissioner.

What is the difference between a Trust Act audit and an income-tax audit?

A Trust Act audit is a state-law requirement reported to the Charity Commissioner, while the income-tax audit (Form 10B or 10BB) is required under the Income Tax Act to maintain exemption for a registered trust. Most trusts need both, and we handle them together.

Which forms are used for a trust's income-tax audit?

Trusts registered under Section 12A/12AB generally file the audit report in Form 10B or Form 10BB, depending on the level of total income and the nature of receipts. We assess which form applies to your trust and file accordingly.

What documents are required for a trust audit?

Typically the trust deed, registration certificate, books of account, bank statements, receipts and payment records, donation details, investment proofs, and the previous year's audited financials and returns.

What happens if a trust does not get its accounts audited?

Non-compliance can lead to penalties, scrutiny from the Charity Commissioner, and loss of income-tax exemption under Section 12A/12AB, which makes the trust's income taxable. Timely audit and filing protect the trust's status.

Can The Classic Partners handle audits for trusts outside Mumbai?

Yes. We work with trusts across multiple locations and can coordinate documentation and filings remotely, while ensuring compliance with the Public Trusts Act applicable to your state.

Need help with your Trust Audit?

Get a clear, compliant audit handled by experienced Chartered Accountants.