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taxability of private school
whether private schools are covered under sec 10(23c). what are the tax implication on their income.
Replies (4)
Unless specific permission obtained from CIT under the provision, its taxable as normal PGBP income.
what will be the treatment if it is run by society
Unless specific permission obtain from CIT, who so ever operate a school, its taxable.
If gross receipt is less than 1cr then can we claim exemption u/s 10(23c) sub clause (iiiad)
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