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
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