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AOP/ AOP (Trust)

This query is : Resolved 
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(Querist)
22 May 2021 One of my client is registered under Rajasthan Society Act having PAN status as AOP (Not registered as AOP trust) but working for charitable purpose my query is regarding

1. Does audit applies to him if his receipts from donation is upto 100000 and expenditure for charitable purpose is 998000 ?

2. If answer is yes to above then which form applies ?

3. Can such types of AOP can be registered under 12AA by filing Form 10A ?

4. Is is compulsory to file the Return ?

5. What should we prepare Receipt & Payment / Income & Expenditure / Profit & Loss Account ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
22 May 2021 1 Tax audit applicable only for business
provided exceed one crore and service providedexceed 50 lacs.
2 File ITR 5.
3 Yes.
4 yes, when donation exceed 50,000 and income exceed 2.50 laces.
5 Prepare receipt and payment account and income and expenditure account
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