Whether audit is required in case of hospital regd. u/s12AA?
This query is : Resolved
11 February 2010
Hello, i want to know whether audit u/s 44AB ie(Form 3 CD) compliance required in case of hospital registered as a trust u/s 12 AA and claiming exemption u/s 11 & 12?
11 February 2010
yes, in my opinion, running of hospital by a charitable trust is carrying on business.
11 February 2010
Nursing home run by persons other than medical practitioners comes under "business" vide ICAI publication 'Issues on Tax Audit' ,June 2000 edition page 24. Consequently if the gross receipts exceeds Rs. 40/- laks in an year provisions of 44AB attracts.
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14 February 2010
Thanks a lot Mr. B. Chackrapani and CA vijay kumar gupta. for your support.
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