Educational society - correction of pan for filing itr7

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 January 2015 My Client is a Rural School registered under AP Societies reg.act and is established for charitable purposes , with annual recipts being around Rs.10 lkhs. It has not applied for registration u/s. 12AA of IT act. Its PAN No. reads as AABAAxxxxB, obviously it’s PAN is that of a AOP. ITR 5 have been filed online , for the first time, recently, pursuant to a letter received from IT dept, Compliance management cell , New Delhi . The letter does not specify any section under which it is being issued. ITR 5 was filed , as online system refused to accept ITR 7. Client is desirious of claiming exemption u/s.10(23C)(iiiad) and file ITR 7.
Now we propose to ask for a change in PAN so that a proper PAN may be issued to file ITR 7 and claim exemption under 10(23C)(iiiad).
Can any expert opine on the above approach and its validity.Thanks in anticipation.

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 January 2015 Only Societies registered u/s 12AA of the IT act or granted exemption under 10(23C)(iiad) are allowed to file ITR7.
First register or get exemption as charitable society no need for change of PAN.

Querist : Anonymous

Querist : Anonymous (Querist)

07 January 2015 Sir,

Thanks, your advice is of considerable help

rgrds.

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