Taxable income of aop

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Rajib Saha (Querist)
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11 June 2014 respected advisers our organisation is registeted u/s 12/A & we act as an society,our pan based on AOP. submit nil returns in ITR 7 due to accounting policies we still unable to finalised our ac since 2011-12. my query is there any limit of profit earned (let our gross receipts 30 lacs & we spend 25 lacs,i.e. more than 85%, is this 5 lacs is taxable & if yes then what is section in which it is taxable & tax amt how much. plz plz reply rajib kolkata

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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11 June 2014 then u can apply for extention to charity commisioner for application of 5 lakhs income to be applied next year.

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Taxable income of aop

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