10 (23 ) exemption
This query is : Resolved
17 March 2018
Assesse is an educational institution ( School ) and PAN status is AOP
Didn't get or apply for exemptions yet
In the year 2016-17 gross receipts is approximately 75 Lakhs and excess income over expenditure is 4 Lakhs
Whether they will eligible for 10 (23 ) exemption ? or they need to pay tax ?
Didn't get or apply for exemptions yet
In the year 2016-17 gross receipts is approximately 75 Lakhs and excess income over expenditure is 4 Lakhs
Whether they will eligible for 10 (23 ) exemption ? or they need to pay tax ?
CA R SEETHARAMAN
(Expert)
17 March 2018
10(23c(iiiad)exemption available upto 1 crore gross receipts. No need to pay tax.
27 March 2018
Which ITR form they have to file sir ?
A notice is received regarding non filing of income tax return
A notice is received regarding non filing of income tax return
CA R SEETHARAMAN
(Expert)
28 March 2018
Reply to the notice gross receipts less than one crore income exempt u/s 10(23c)(iiiad) being educational institution.
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