It returns of society

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 June 2018 Dear Sir, i have been appointed as a Accounts manager for a Society which runs a school. i found that IT Returns are not filled from last three years. what are the rules that guides filing of IT in this situation.. upon observation of account i identified that there is no excess of income over expenditure.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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04 June 2018 what is the turnover in this year?

Expert : Anonymous

Expert : Anonymous (Expert)

04 June 2018 Society being a AOP/BOI, it is compulsory to file ITR irrespective of excess income or not.

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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04 June 2018 Dear Anonymous expert. please note that if you are running a school and the turnover is below 1 cr, there is no ITR filing for such societies. That is why I asked the question, what is the turnover!