Whether audit is required in case of hospital regd. u/s12AA?

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Ashwani Gupta (Querist)
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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?

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
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11 February 2010 yes, in my opinion, running of hospital by a charitable trust is carrying on business.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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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Ashwani Gupta

Ashwani Gupta (Querist)
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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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