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Applicability of Tax Audit

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21 May 2011 A society is running a School having groos receipts from tuition fee of Rs. 60.00 lacs and above. Whether Tax Audit is applicable on society running a school

Net income is to be shown under which head
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Amol Gopal Kabra (CA,CS,DISA)

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Amol Gopal Kabra (CA,CS,DISA) (Expert)
21 May 2011 Yes. Tax Audit is applicable. There is no business (except some business for non-residents) that is exempt from tax audit. So, the tax audit shall be applicable to it.
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