Taxation ofsocieties

A soiciety  is  registered under Tamil Nadu Societies Registration Act  1977  as a  parents association on an annual subscripttion basis and Life time member basis for the mutual benefit of the parents. A  major portion of the annual subscripttion   and  interst income on corpusfund deposits are spent within the same year. A small surplus of few  thousands is left at the year end .The assn does not engage in any commercial or profit making activities  Is the Association liable to file IT Return and pay  tax on the small surplus or is it entitled to basic exemption  like individual assessees.Would  be thankful for a clarification. Sundaram