Taxation of School
This query is : Resolved
01 September 2008
Any body
tell me about taxation of School run under society.
Is school income tax free??
What is procedure to enjoy tax free income ??
Under which section this will exempt ??
tell me about taxation of School run under society.
Is school income tax free??
What is procedure to enjoy tax free income ??
Under which section this will exempt ??
04 September 2008
As per section 10(23C)in following cases ,school income is tax free -
1.School is financed in major part or fully by govt
2.School is not for profit motive and annual receipt is not more than 1 crore
3.Approved by Chief comissioner
1.School is financed in major part or fully by govt
2.School is not for profit motive and annual receipt is not more than 1 crore
3.Approved by Chief comissioner
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