Question ID :
33791
Is Audit of society not registered U/s 12AA compulsory ?
Dear Sir,
An educational society , not registered U/S 12AA of IT Act, having gross receipts of 32 lacs. Is it compulsory to audit if, yes under which section, please guide.
Posted by
RAM KUMAR SARASWAT
on
Sep 01, 2018
Filed Under
AUDIT
Answer ID :
72947
In my view audit is not required as there is no such requirement under the the I.T.Act. Please also refer S. 10(23C)(iiiad) under which educational institute income is exempt. However return is to be filed u/s 139(4C)
Posted by
Surendra Chopra on
Sep 08, 2018