Applicability of income tax to the educational societies
This query is : Resolved
shreyans kothari
(Querist)
08 March 2013
A Private Education society runs a day cum boarding school for all sections of society. Is it liable to pay Income Tax on its receipts deriving from imparting education?
Soumitra Basu
(Expert)
10 March 2013
If it is society or charitable trust and has gross receipt of less than 1 crore, there is no tax irrespective of profit.
shreyans kothari
(Querist)
10 March 2013
Sir, the gross receipts of the society crosses 1 crore. However it has not accumulated more than 15% of its gross receipts anytime. Moreover, no government aid has been taken. All the expenses made are directly attributable to the purpose of imparting education. So what is your view point here?
Soumitra Basu
(Expert)
10 March 2013
You have to apply to cmmissioner for getting exemption. Please see section 10(23C)(v).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
