One of my client is an NGO but not obtained/applied for Registration under Section 12 A of income tax Act. The NGO Gross receits exceeds 1 crore. In which status the return has to be filed and what is the Audit Report format to be enclosed i.e, whether in Form 10 B or any other form. Whether tax audit report in Form 3CB and 3 CD needs to be enlosed.

Kindly clarify

With regards

We will receive approx Rs.5 lakh as residential property rent and rs.9 lakh as commercial property rent p.a . as far as i know service tax is liable only if commercial rent crosses 10 lakh p.a. and there is no service tax on residential rent. please clarify i am correct and as above rent we will be receiving we need not pay service tax.

Hw tu prepare for both grup IPCC in 1 mnth

I am resident of a trust property since last
55 years with my family. The trust gave me a proposal to vacate the said property for a consideration of Rs 5 lakhs .

What will be the treatment of this amount in
income tax - Capital gain or income from other sources or anything else.

Secondly, if I accept the proposal, the income will be
my personal income or income of my HUF.

VERY VERY URGENT:

A Pvt Ltd Company is in business - Developer/ Builder.

However the Co is also a partner in a partnership firm . The Share of Profit is Rs. 8 cr. during the year

Now
Question 1. Should this share of Profit of Rs. 8 Cr be considered for tax audit. Will this company be liable to tax audit under sec 44 AD.??

Question 2. Will this share of Profit of Rs. 8 Cr be taxable under Book Profit in MAT.?? (The company has already paid tax in partnership firm on Rs. 8 cr profit).

Other Information :.
Since the project undergoing is under construction.
The T/O is Nil.
Other Income : Share of Profit from Partnership firm - Rs. 8 Cr.

Expenses in P& L A/c : Rs. 11 lacs
Net Profit : Rs. Rs. 7.90 cr approx

The Expenses of project undergoing are of Rs.3.28 cr - trsfd to COP (including purchases of Rs.78.94 lacs)

SIR KINDLY ANSWER THE ABOVE QUESTION WITH A VALID SOURCE / LINK.

THANKS IN ADVANCE.

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