Call For Business Enquiries : +91 97650 00966 / +91 98190 00511 / +91 98218 32683
Call For Business Enquiries : +91 97650 00966 / +91 98190 00511 / +91 98218 32683
Trust Audit · Panaji, Goa
Audit for charitable and religious trusts, societies and NGOs in Goa — Section 12A/12AB certification in Form 10B or 10BB, annual accounts to the Charity Commissioner, and FCRA audit with Form FC-4.
Overview
Trusts, societies and NGOs in Goa operate under a multi-layer regulatory framework: the Income Tax Act (Sections 12A and 12AB for tax exemption), the Goa, Daman and Diu Public Trusts Act, 1975 (Charity Commissioner registration and annual submission), and the Foreign Contribution (Regulation) Act, 2010 for trusts receiving foreign donations. Each layer carries its own audit requirement and its own deadline. Goa has a rich tradition of trusts managing churches, temples, schools, hospitals and community welfare organisations across Panaji, Margao and the rest of the state. Keeping the Section 12AB audit, the Charity Commissioner submission and the FCRA annual return all filed correctly and on time is the focus of our trust audit practice at N D Savla & Associates in Panaji, Goa.
The key recent change for trust audits is the split of the old single Form 10B into two forms from FY 2022-23: Form 10B for larger trusts with income above Rs. 5 crore without exemption, or with foreign income, and Form 10BB for smaller trusts with only domestic income. Filing the wrong form can jeopardise the trust's Section 11/12 exemption for the year. For the broader audit and assurance framework, see our Audit & Assurance Services hub.
The framework
| Trust audit type | Legal basis | Form / submission | Due date |
|---|---|---|---|
| Income tax audit for 12A/12AB trusts (income > Rs. 5 crore or foreign) | Section 12AB, Income Tax Act 1961 | Form 10B (electronic, Income Tax portal) | 1 October |
| Income tax audit for smaller 12A/12AB trusts | Section 12AB, Income Tax Act 1961 | Form 10BB (electronic, Income Tax portal) | 30 September |
| Goa, D&D Public Trusts Act — Charity Commissioner | Goa, Daman and Diu Public Trusts Act, 1975 | Audited annual accounts to Charity Commissioner Goa | 30 June (3 months after March year-end) |
| FCRA audit (trusts receiving foreign contributions) | FCRA 2010; MHA online portal | FC-4 annual return with audited FCRA accounts to fcraonline.nic.in | 31 December each year |
Tax exemption
Exemption depends on annual audit certification and on applying income to charitable purposes.
Review our trust's status →Charitable and religious trusts registered under Section 12AB are eligible for income tax exemption on their income, subject to applying 85% of income for charitable purposes.
The trust's accounts must be audited by a CA and certified in Form 10B or Form 10BB.
At least 85% of total income received must be applied for charitable or religious purposes in India. Any shortfall is taxable unless accumulated under Section 11(2).
Old Section 12A/12AA registrations needed re-registration under the 12AB regime effective April 2021. Trusts that did not re-register have lost their exemption status.
Choosing the form
Total income without Section 11/12 exemption exceeds Rs. 5 crore, or the trust received or applied foreign contributions, or the trust applied for Section 11(2) accumulation. Due 1 October.
All other 12A/12AB trusts — domestic income, below the Rs. 5 crore threshold, no foreign funds. Due 30 September.
Filing 10B when 10BB would have been sufficient is not an error. Filing 10BB when 10B was required can jeopardise the exemption.
State compliance
Foreign contributions
Frequently asked questions
If total income without exemption is Rs. 5 crore or less and the trust has no foreign income, file Form 10BB by 30 September. If income exceeds Rs. 5 crore or the trust received foreign contributions, file Form 10B by 1 October. When unsure, file Form 10B for safety.
Yes — these are separate submissions to different regulatory bodies with different timelines. Income Tax (Form 10B/10BB) by 30 September or 1 October on incometax.gov.in; Charity Commissioner Goa (annual accounts) by 30 June. Both are required for trusts registered under both frameworks.
Yes. Donations from any person outside India — including the Indian diaspora — are foreign contributions under FCRA regardless of the donor's origin. Without FCRA registration, receiving these donations is a violation. The church must be registered under FCRA, receive contributions only in the designated FCRA bank account, and file Form FC-4 by 31 December each year.
At least 85% of the total income received by a trust registered under Section 12AB must be applied for charitable or religious purposes in India during the year. Any shortfall is taxable unless it is accumulated under Section 11(2) with the prescribed declaration.
Old Section 12A and 12AA registrations required re-registration under the Section 12AB regime effective April 2021. Trusts that did not re-register have lost their exemption status, and their income becomes taxable until registration is restored.
Related audit services
Form 10B/10BB, Charity Commissioner Goa and FCRA — on time, every year. Book a free consultation with a qualified Chartered Accountant in Goa.
N D Savla & Associates is a trusted CA firm serving Querim with income tax filing, GST compliance, audit, company registration, accounting and NRI taxation. Local expertise, transparent fixed fees, and direct attention from a qualified Chartered Accountant.
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Querim, the northernmost beach village in the Pernem taluka of North Goa near the historic Tiracol Fort, is home to a growing mix of beach resorts, guesthouses, restaurants, traders, real estate developers and hospitality startups — each with its own compliance needs. N D Savla & Associates helps Querim-based clients stay tax-compliant, audit-ready and financially organised, while NRIs and investors with property in the area rely on us for property and repatriation matters.
Whether you are filing your first income tax return, registering a Private Limited company, or managing GST for a beachfront resort or restaurant, every engagement is led by a qualified Chartered Accountant who understands both Indian tax law and the local Querim market.
Complete financial, tax and compliance support — from one trusted partner based in Goa.
Income tax returns, advance tax planning and notice handling for salaried individuals, professionals, businesses and NRIs in Querim.
GST registration, monthly and quarterly returns, input credit reconciliation, GST audits and notice resolution for Querim businesses.
Statutory, tax, internal and stock audits for private limited companies, LLPs, trusts and co-operative societies in Querim.
End-to-end incorporation of Private Limited, LLP, OPC and proprietorships, plus MSME, FSSAI and trademark registration.
Cloud accounting on Tally, Zoho and QuickBooks, monthly MIS, payroll, TDS, PF and ESI compliance for growing Querim businesses.
NRI tax filing, lower TDS certificates, capital gains on property sale, repatriation, FEMA and DTAA support for NRIs in Querim.
A Goa-rooted CA firm with a national outlook — combining local industry knowledge with up-to-date tax and corporate law expertise.
Quick answers to common questions from Querim clients.
Yes. N D Savla & Associates serves individuals, businesses, hotels, startups and NRIs in Querim and surrounding areas with income tax, GST, audit, company registration and accounting services. We work both in person and remotely.
Fees depend on the nature of the return. Salaried income tax filing starts at a few thousand rupees, while business and NRI returns are quoted based on complexity. We share a transparent fixed-fee proposal after a free discovery call.
Yes. We handle GST registration, monthly and quarterly returns, input tax credit reconciliation, GST audits and notices for traders, hotels, beach shacks, restaurants and service businesses across Querim.
Yes. We assist NRIs with lower TDS certificates under Section 197, capital gains on property sale, repatriation through Form 15CA/CB, FEMA and RBI compliance, and double taxation relief.
Yes. We handle end-to-end company and LLP incorporation including DSC, DIN, name approval, MoA/AoA, PAN, TAN, GST and MSME registration. Most setups are completed within 10 to 15 working days.
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