A School is running under the aegis of An Education Society which is registered u/s 12A. The School is having its separate PAN in School Name. For the FY 2010-11, Total Receipts of school was around Rs. 5 Cr. and excess of Income over expenditure was Rs. 50 Lacs.
Now Pls Suggest
1. What are the tax implications in the case of School
2. Whether it is compulsory to file ITR by the school and what about tax exemption.
Once again I want to attract your attention on my point that Registration u/s 12A is only for society and the school is working under the society.

Dear Sir
can any body tell me what is the procedure of export documentation and what documents is required and from where i can do some course in export management

An inter state sale made to an EOU is fully exempted. Where this should be mentioned in CST form and which section covers the same?

Pls paste the link also..

helo,
my question is that what is the definition of FULL TIME EMPLOYMENT because as per section 224(1B) no company or its bod shall appoint or re appoint any person who is in full time employment elsewhere again my question is that if any individual is in full time employment ELSEWHERE than how can he/she hold certificate of practice and if cop will not be held then the question of "no company or its bod shall appoint or re appoint any person who is in full time employment elsewhere" how can be arised.

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An individual has taken a house loan in which he is living & repaying the same ,he again took a house loan (f.y 13-14) which is under construction .

So,the Individual will the get the full deduction of interest for the 2nd house loan or within a limit of 150000 (1st + 2nd house loan)

Dear sir,

Qustion about salary income.

one of our employee used leaves more than what we fixed, we deducted excess leaves salary from his salary income.

my question is. is deducted leaves salary taxable or not?

can i show his deducted salary to his annual salary or not?

Dear experts
As per Act “tuition fees (excluding any payment towards any development fees or donation or payment of similar nature), whether at the time of admission or thereafter” & Circular 08/2013 says “It is clarified that the amount allowable as tuition fees shall include any payment of fee to any
university, college, school or other educational institution in India except the amount
representing payment in the nature of development fees or donation or capitation fees or payment of similar nature.”
As per above sentence word given “ any fee at the time of admission or thereafter” not says only tuition fee, so tuition fee covers other fees also which are paid for education.

Only disallowed expenses which are not paid for education & paid for nature of donation (development fees or donation) or capitation fee- eg for uniform , conveyance, Library etc.

Admission fee, Annual fee, Annual charges, Exam fee, Tuition Fee are not the nature of donation or capitation & paid for education, so please let me know that these fees are cover under word any fee ?

one of my friend having dispute with the debtor is to received amount under decree (as per order of court) is it taxable under income tax? in the earlier year it was not recognized in books of accounts.

medical allowance is part of the salary . this allowance is eligible for exemption or not. if eligible what amount should be eligible?

Hi Sir,

I have purchased few company shares in share market (equity) almost 3-4 years back.

Now I am making some profit on it.

If I sell my shares now

1) Will it attract any tax ?

2) Do I have to mandatory show them in my Income Tax return filing ?