audit of educational institutions

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 January 2010 is it mandatary to get any examption to claim an examtion u/s sec10(23)c for an educational institution as an aop (reg society)motive is non profit ref any issues caslaws notificatios eteee

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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06 January 2010 If taxable income before giving exemtion u/s 10(23c) exceeds the exemption limit, then it is compulsory to get books of accounts audited u/s 10BB.

Querist : Anonymous

Querist : Anonymous (Querist)

07 January 2010 my dear friend what i am asking is it mandatary to get an examption U/s10(23c)vi even grocess receipts not exceeded 1cr.

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CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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07 January 2010 It is very much understood from the above when audit is mandatory.

Answer - Not mandatory.

But in practical, all do for CA Audit.