Audit requirement for schools

EDUCATIONAL INSTITUTIONS NOT REGISTERED U/S. 12AB / NOT APPROVED U/S. 10(23C)(vi) BUT ARE ELIGIBLE FOR EXEMPTION U/S. 10(23C)(iiiad)
(1) This exemption is available only for educational institutions whose aggregate annual receipts are not more than Rs. 5 Crore. This limit is common limit for all the educational institutions run by a single entity.
(2)This exemption may be available only in cases where the educational activities are being conducted under institutional format (e.g., trust, society, section 8 companies etc.). Where educational activities are being conducted under any other form (e.g., individual, HUF, non section 8 company, LLP, partnership firms etc.) this exemption may not be available.
(3) This exemption is available only for educational institutions whose object is not to earn profit. However, there may not be any ineligibility for exemption merely because surplus has aroused unintentionally.
(5) In such cases no tax audit in form no. 10B / 10BB is required.
(6) The tax audit u/s. 44AB is also not required even if the annual gross receipts from educational (charitable) activities exceeds Rs. 1 Cr.


If you registered under societies act, then audit as per societies act is compulsory

No, in this case Audit not required.

But in societies act it is compulsory.

Audit requirement for schools

@ sabyasachi mukherjee,
Sir why you are putting the heading of query on each post

Utilization of grants as per relevant sections has to be there. I can provide the audit checklist or upload it.