Question ID :
34810
Is Audit of society not registered U/s 12AA, compulsory ?
Sir, an educational society (not registered U/s 12AA of IT Act,) is having gross receipts of Rs. 170 Lacs and excess of income over exp. is Rs. 1.50 lacs only. Is its audit mandatory ? if yes, under which section and report in which form to be submitted? please advice.
Posted by
RAM KUMAR SARASWAT
on
Sep 17, 2018
Filed Under
DIRECT TAXES
No tax liability....since ordinary computation of income of AOP would apply ( depending on facts)
Posted by
SIVADAS CHETTOOR on
Feb 06, 2025