A school registered as AOP in last f/y but got approval in current f/y. this is the first year of return filing. such school is having preliminary exp. which should be written off as per section. 35D.
Sec 35D requires audit with form 3AE in case exp. are written off.
My question is whether such applicability is there on school?
Menu
audit of school registered as AOP
Replies (3)
Income Tax requirement would be applicable to any person. The AOP is considered to be person under the Income Tax Act. Thus it would be applicable.
thank u ma'am. but there is doubt. such school has no revenue upto 31st March 2018. Is form 3AE still applicable?
Can school be really registered as AOP? As far as I know school can be registered only as a society, or as a trust or under section 8 of the companies act 2013.
Recent Topic
- Unable pay Self Assessment Tax - Netbanking and De
- Section 192 2(b) entry in IT return ITR 1
- Rent from redevelopment property
- How to find FMV of inherited gold after selling it
- Happy CA Day!!
- Share your proudest CA moment 🏆
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
Related Topics
CAclubindia
