24 February 2017
Sir/Madam
One of my relative has opened a school for profit motive and the pan they have obtained is that of an AOP Trust but they are not registered u/s 12 of the it act... the gross receipts has exceeded 2. 5 lakhs... my question is that are they liable to get their books audited??
please provide your valuable suggestions...
thank you in advance
CAclubindia
