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hospitals

bhanuprakash (Final Student) (116 Points)

08 February 2008

Is it compulsory that all hospitals running on donations and contributions has to file income tax returns even though there is no taxable income.

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neha sodhani (student) (934 Points)
Replied 08 February 2008

It is not necessary to have taxable income to file income tax returns.so, according to me IT return should be filled. A charitable Trust or Institution is required to file its return if its total income exceeds the maximum amount which is not chargeable to tax W.e.f AY 2007-08, anonymous donations received by a charitable trust is taxable at the rate of 30% + surcharge+ education cess.