audit of an educational institution
This query is : Resolved
Saket Sinha
(Querist)
02 July 2010
I am doing audit of an educational institution located in noida such educational institution has its own radio station called "salaam namaste"
My query is that the institute is earning income on advertisement from various parties.Whether, such income can be considered as "incidental to the main objects of institute"
i.e whether they are exempt from tax or taxable, if taxable, then such income taxable at maximum marginal rate?
Hoping for suggestions
My query is that the institute is earning income on advertisement from various parties.Whether, such income can be considered as "incidental to the main objects of institute"
i.e whether they are exempt from tax or taxable, if taxable, then such income taxable at maximum marginal rate?
Hoping for suggestions
Ankur Garg
(Expert)
02 July 2010
To figure out the nature of income and activity you are requested to check the memorandum or bylaws of the company along with the object clause.
Views of other members solicited.
Regards
Views of other members solicited.
Regards
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