In case of Educational society, rental Income received by the society will have been expended for the educational purpose. Whether the same ( Rental Income) will be taxable for society.
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Query in respect of Rental Income received by Society
Replies (1)
Rental income for an educational society may be tax-exempt if the institution qualifies under Section 10(23C), exists "solely" for educational purposes, and applies the income toward those charitable/educational objectives. However, if the rental activity is deemed commercial or not incidental to education, it may lose its exempt status and become taxable.
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