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Gross receipts of educational society are less than one crore,is it mandatory fo get registered under sec 12AA to claim exemption????
Replies (7)
Quick Summary
Not required
If we file ITR as Educational society, will we get automatic exemption??
No automatic exemption. without registration it will be treated as AOP and tax at maximum slab rate.
Means registration u/s 12 AA is mandatory to claim exemption????
Yes to claim exemption in ITR you have to take registration u/s 12AA.
If we file ITR 7 under sec 139(4d) and gross receipts are less than 1 crore ,even then required to get registered under sec 12AA??????
To claim exemption registration is required
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