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taxability of income

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(Querist)
26 November 2009 A society is running an educational instituion (school) .Its annual receipts comes to Rs. 25.00 lacs. What are the provisions of income tax applicable to the society.
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Rakesh Khanna

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Rakesh Khanna (Expert)
16 June 2010 Income of the society will be exempt under Section 10(23C) as it is below rupees one crore.

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