21 October 2023
If any society having 12A registration and their total income not exceeding the criteria of 5 crore, then which audit form he required to file 10 B or 10BB.
21 October 2023
In case of 5 crore criteria applicable no need to file any form. Form 10B is an audit report provided by a CA under Section 12A of the Income Tax Act, 1961 to charitable funds, universities, educational institutions, hospitals, or other medical institutions whose total income in the previous financial year has crossed the threshold of Rs. 5 crore.
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