An Educational Society has been registered in the Society Act. It runs an Educational Institution.
It works on NO PROFIT & NO LOSS.
Whether the Income of the educational society is taxable?
If the society makes FDR in bank or has rental income, Is it taxable?
Kindly Advise.
See if the education institution does not run on a profit model, then it can apply for certification from the income tax department.
If the department is convinced then the whole of income shall be exempt.
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