Are NGO liable for tax Audit or simple Audit?
This query is : Resolved
26 July 2008
An NGO registered under sec 12A of IT Act, is it liable for Tax Audit u/s 44AB or simple Audit?
28 July 2008
In case of every person carrying on the business activity, it shall get his accounts audited u/s 44AB if total sales, turnoveror gross receipts exceed rs 40 lacs. Section 44AB is applicable to Every Person and every person includes an NGO also.
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