taxability of income

This query is : Resolved 

26 November 2009 A society is running an educational instituion (school) .Its annual receipts comes to Rs. 25.00 lacs. What are the provisions of income tax applicable to the society.

16 June 2010 Income of the society will be exempt under Section 10(23C) as it is below rupees one crore.

Please refer to the section for details.



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