Dear sir,
Assessee is a Private school Registered as a society for soely imparting education , district register certified the not for profit motive.
TURNOVER for the FY 2015-16 was 85 laks and TURNOVER for the FY 2016-17 was 1.4 crores.
My Question is for FY 2015-16 shall i claim 10(23c)(iiiad) directly? or shall i obtain any approval ?
and for FY 2016-17 44AB aplicable?
| Originally posted by : Vijay Kumar | ||
 |
Dear sir, Assessee is a Private school Registered as a society for soely imparting education , district register certified the not for profit motive. TURNOVER for the FY 2015-16 was 85 laks and TURNOVER for the FY 2016-17 was 1.4 crores. My Question is for FY 2015-16 shall i claim 10(23c)(iiiad) directly? or shall i obtain any approval ? and for FY 2016-17 44AB aplicable? |
 |
For 2015-16 you may claim deduction U/s 10(23c)(iiiad) and Tax audit is applicable only for business income.
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
CCI
Pro
CAclubindia
