Renewal of charitable organizations u/s 80 g section 12 a
This query is : Resolved
21 May 2015
charitbale organizations registered ed for exemption under section 12 A of IT ACT
and has approval of commissioner under section 80 g(5)(vi).Whether audit of books of account is mandatory when their gross receipts are below 1 crore and do they have to get their accounts audited under section 12A(b) of the Incometax act. Pleas clarify
and has approval of commissioner under section 80 g(5)(vi).Whether audit of books of account is mandatory when their gross receipts are below 1 crore and do they have to get their accounts audited under section 12A(b) of the Incometax act. Pleas clarify
CA SUNIL K GARG
(Expert)
21 May 2015
Yes, the account is to be audited it is a pre condition of sec 12 A(b).
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