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Tax implication

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(Querist)
30 January 2014 Does an educational institute registered under society act has exempted income if yes then what's limit..
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
30 January 2014 The income will be exempted only if the Society is registered u/s 12AA of the Income Tax Act.
In that case, the whole income is exempt provided that 85% of the income is applied to educational purposes.

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