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audit of educational institutions

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Querist : Anonymous

Querist : Anonymous (Querist)

06 January 2010 is it mandatary to get any examption to claim an examtion u/s sec10(23)c for an educational institution as an aop (reg society)motive is non profit ref any issues caslaws notificatios eteee

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)

06 January 2010 If taxable income before giving exemtion u/s 10(23c) exceeds the exemption limit, then it is compulsory to get books of accounts audited u/s 10BB.

Querist : Anonymous

Querist : Anonymous (Querist)

07 January 2010 my dear friend what i am asking is it mandatary to get an examption U/s10(23c)vi even grocess receipts not exceeded 1cr.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)

07 January 2010 It is very much understood from the above when audit is mandatory.

Answer - Not mandatory.

But in practical, all do for CA Audit.

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