Educational or institution

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17 Points Posted on 03 March 2021
Gross receipts of educational society are less than one crore,is it mandatory fo get registered under sec 12AA to claim exemption????
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On 03 March 2021 at 17:41 Report
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This discussion clarifies whether an educational society with gross receipts under one crore must register under Section 12AA to claim tax exemption. It confirms that simply filing an Income Tax Return (ITR) does not grant automatic exemption. Without 12AA registration, the society will be taxed as an Association of Persons (AOP) at the highest slab rate. Therefore, obtaining 12AA registration is mandatory to claim tax exemption, even when filing ITR 7 under section 139(4d).

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Chartered Accountant
24588 Points Posted on 03 March 2021
Not required
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On 03 March 2021 at 18:50
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17 Points Posted on 03 March 2021
If we file ITR as Educational society, will we get automatic exemption??
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On 03 March 2021 at 19:08
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17269 Points Posted on 03 March 2021
No automatic exemption. without registration it will be treated as AOP and tax at maximum slab rate.
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On 03 March 2021 at 19:38
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17 Points Posted on 03 March 2021
Means registration u/s 12 AA is mandatory to claim exemption????
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On 03 March 2021 at 19:58
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Chartered Accountant
7550 Points Posted on 03 March 2021

Yes to claim exemption in ITR you have to take registration u/s 12AA.

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On 03 March 2021 at 20:06
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17 Points Posted on 03 March 2021
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??????
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On 03 March 2021 at 20:11
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Chartered Accountant
24588 Points Posted on 06 March 2021
To claim exemption registration is required
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On 06 March 2021 at 06:24

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