Tax audit
This query is : Resolved
25 May 2013
Public charitable trust running an International School, Is there a need for tax audit if gross receipt from school fees is more than 1 crore.
Income of trust is exempt u/s 10(23) of the Income tax act, 1961
Income of trust is exempt u/s 10(23) of the Income tax act, 1961
25 May 2013
No, only if the total income of the trust without giving effact to the section 11 & 12 is exceeding the maximum amount not chargeable to tax must have its accounts audited by a C.A.
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