Trust Audit Report Format
FORM No. 10B
[See rule 17B]
Audit report under section 12A(1)(b) of the Income-tax Act, 1961, in the case of charitable or religious trusts or institutions.
We have audited the balance sheet of {{client_name}} (PAN: {{trust_pan}}) as at {{period_end}} and the income & expenditure account for the year ended on that date which are in agreement with the books of account maintained by the said Trust/Institution.
We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of the audit. In our opinion, proper books of account have been kept by the said Trust/Institution so far as appears from our examination of the books, subject to the comments given below:
_____________________________________________________________________
_____________________________________________________________________
In our opinion and to the best of our information and according to information given to us, the said accounts give a true and fair view—
- In the case of the balance sheet, of the state of affairs of the above-named Trust/Institution as at {{period_end}}; and
- In the case of the income & expenditure account, of the surplus or deficit for the year ended on that date.
The prescribed particulars are annexed hereto.
Place: _____________________
Date: 29 May 2026
For {{firm_name}}
Chartered Accountants
Firm Registration No.: {{firm_registration_no}}
_______________________________
{{engagement_partner}}
Partner
Membership No.: {{icai_membership_no}}
UDIN: ____________________
ANNEXURE — Statement of Particulars
Name of the Trust/Institution: {{client_name}}
PAN: {{trust_pan}}
Registered under: Section 12AB
Registration / URN: {{trust_reg_no}}
Previous Year: {{period_end}}
Assessment Year: {{assessment_year}}
I. Application of Income for Charitable or Religious Purposes
| Particulars | Amount (₹) |
|---|
| 1. Amount of income of the previous year applied to charitable or religious purposes in India during that year | |
| 2. Whether the Trust/Institution has exercised the option under clause (2) of the Explanation to sub-section (1) of section 11? If yes, the details of the amount of income deemed to have been applied | Yes / No |
| 3. Amount of income accumulated or set apart / finally set apart for application to charitable or religious purposes, to the extent it does not exceed 15 per cent of the income derived from property held under trust wholly / in part only for such purposes | |
| 4. Amount of income eligible for exemption under section 11(1)(c) (give details) | |
| 5. Amount of income, in addition to the amount referred to in item 3 above, accumulated or set apart for specified purposes under section 11(2) | |
| 6. Whether the amount of income mentioned in item 5 above has been invested or deposited in the manner laid down in section 11(2)(b)? If so, the details thereof | Yes / No |
| 7. Whether any part of the income in respect of which an option was exercised under clause (2) of the Explanation to sub-section (1) of section 11 in any earlier year is deemed to be income of the previous year under section 11(1B)? If so, the details thereof | Yes / No |
| 8. Whether, during the previous year, any part of income accumulated or set apart for specified purposes under section 11(2) in any earlier year — (a) has been applied for purposes other than charitable or religious purposes / (b) has ceased to be accumulated or set apart / (c) has ceased to remain invested in any security referred to in section 11(2)(b)(i)–(iii) / (d) has not been utilised for purposes for which it was accumulated or set apart during the period for which it was to be accumulated or set apart, or in the year immediately following the expiry thereof | Yes / No — give details |
II. Application or Use of Income or Property for the Benefit of Persons Referred to in Section 13(3)
- Whether any part of the income or property of the Trust/Institution was lent, or continues to be lent, in the previous year to any person referred to in section 13(3) (hereinafter referred to as "such person"). If so, give details of the amount, rate of interest charged and the nature of security, if any.
- Whether any land, building or other property of the Trust/Institution was made, or continued to be made, available for the use of any such person during the previous year. If so, give details of the property and the amount of rent or compensation charged, if any.
- Whether any payment was made to any such person during the previous year by way of salary, allowance or otherwise. If so, give details.
- Whether the services of the Trust/Institution were made available to any such person during the previous year. If so, give details thereof together with remuneration or compensation received, if any.
- Whether any share, security or other property was purchased by or on behalf of the Trust/Institution during the previous year from any such person. If so, give details thereof together with consideration paid.
- Whether any share, security or other property was sold by or on behalf of the Trust/Institution during the previous year to any such person. If so, give details thereof together with the consideration received.
- Whether any income or property of the Trust/Institution was diverted during the previous year in favour of any such person. If so, give details thereof together with the amount of income or value of property so diverted.
- Whether the income or property of the Trust/Institution was used or applied during the previous year for the benefit of any such person in any other manner. If so, give details.
III. Investments held at any time during the Previous Year(s) in Concerns in which Persons Referred to in Section 13(3) have a Substantial Interest
| Name and address of the concern | Where the concern is a company, number and class of shares held | Nominal value of investment (₹) | Income from investment (₹) | Whether the amount in col. 3 exceeded 5% of the capital of the concern during the previous year (Yes/No) |
|---|
| | | | |
| | | | |
| | | | |
Total
IV. Voluntary Contributions, Anonymous Donations and Foreign Contributions
- Total amount of voluntary contributions received during the previous year: ₹ ____________
- Out of the above, voluntary contributions received with a specific direction that they shall form part of the corpus of the Trust/Institution (capital contributions): ₹ ____________
- Amount of anonymous donations as defined in section 115BBC during the previous year: ₹ ____________
- Foreign contributions received under the Foreign Contribution (Regulation) Act, 2010 during the previous year: ₹ ____________
- Whether the Trust/Institution is registered under FCRA, 2010? If yes, FCRA Registration No.: ____________
V. Income Applied Outside India
- Whether any income of the Trust/Institution was applied during the previous year for purposes outside India? Yes / No
- If yes, whether the Trust/Institution falls within clause (a) or clause (b) of sub-section (1)(c) of section 11? ____________
- Amount applied outside India: ₹ ____________
- Whether the prior general or special order of the Board has been obtained under section 11(1)(c)? Yes / No
VI. Capital Expenditure and Acquisition of Assets
- Whether the Trust/Institution has acquired any capital asset during the previous year out of its current income? Yes / No
- If yes, total cost of such capital assets: ₹ ____________
- Has the Trust/Institution claimed this cost as application of income under section 11(1)? Yes / No
- Whether any depreciation has been claimed on the said capital assets in computation of income? (Note: post-Finance Act 2014, depreciation on assets whose acquisition cost has been claimed as application of income is not allowed.) Yes / No
VII. Books of Account and Records
- Whether the Trust/Institution maintains regular books of account? Yes / No
- Method of accounting followed: Cash / Mercantile / Hybrid
- Whether any change in the method of accounting was made during the previous year as compared to the method employed in the immediately preceding previous year? If yes, effect on income: ____________
- Whether the books of account and other relevant documents have been kept at the registered office of the Trust/Institution? Yes / No — if no, details:
VIII. Audit under Other Statutes
- Whether the Trust/Institution is also subject to audit under any other law for the time being in force (e.g. State Trust Act, Societies Registration Act, Companies Act for Section 8 companies)? Yes / No — give details
- Date of completion of audit under such other law: ____________
IX. General Disclosures
- Whether the Trust/Institution has filed return of income for the previous year within the time allowed under section 139? Yes / No
- Whether the Trust/Institution's registration under section 12A / 12AB / 10(23C) was in force throughout the previous year? Yes / No
- Whether any order of cancellation of registration was passed by the Principal Commissioner / Commissioner of Income Tax during the previous year? Yes / No
- Any other relevant information which may be required to be furnished:
Place: _____________________
Date: 29 May 2026
For {{firm_name}}
Chartered Accountants
Firm Registration No.: {{firm_registration_no}}
_______________________________
{{engagement_partner}}
Partner
Membership No.: {{icai_membership_no}}
UDIN: ____________________
