A Society is Registered in Sec 12AA.

    Posted By : damini / Published on : 15-Nov-2019 08:11 AM / View : 20 / Comment : 0
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    The Society is running a School. Its current year Receipts are Rs 2 cr and Application of Income ( Expenses ) are Rs.2.50 cr. Due to some unavoidable circumstances, it not able to file its ITR within due date. What will be Tax implications ? Whether it will be Taxed on Rs.2 cr Receipts or at Nil, since its in loss of Rs.0.50 cr. Whereas its not taking benefit of Sec 11 due to loss.
    Read more on : 12aa registered society



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