08 March 2013
A Private Education society runs a day cum boarding school for all sections of society. Is it liable to pay Income Tax on its receipts deriving from imparting education?
10 March 2013
Sir, the gross receipts of the society crosses 1 crore. However it has not accumulated more than 15% of its gross receipts anytime. Moreover, no government aid has been taken. All the expenses made are directly attributable to the purpose of imparting education. So what is your view point here?
CAclubindia
