Exemption under section 10(46) of itax act

avinash (ACCOUNTS) (7 Points)

23 December 2020  

A authority formed in april 2018 has applied for the exemption u/s 10(46) and the same was granted from the FY 2019-20. However the authority has earned profit for 2018-19 and has not filled return for that period till date. whether the authority shall be liable for tax during 2018-19 and other penal provision if any