Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

It returns of society

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

03 June 2018 Dear Sir, i have been appointed as a Accounts manager for a Society which runs a school. i found that IT Returns are not filled from last three years. what are the rules that guides filing of IT in this situation.. upon observation of account i identified that there is no excess of income over expenditure.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

04 June 2018 what is the turnover in this year?

Expert : Anonymous

Expert : Anonymous (Expert)

04 June 2018 Society being a AOP/BOI, it is compulsory to file ITR irrespective of excess income or not.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

04 June 2018 Dear Anonymous expert. please note that if you are running a school and the turnover is below 1 cr, there is no ITR filing for such societies. That is why I asked the question, what is the turnover!

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now