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.
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.
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!
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