20 May 2015
There is a School, whose annual receipts are greater than Rs. 1 Crore. And also the School is not registered under Section 12A. Hence, school can neither claim exemption u/s 10(23C) not u/s 11 and 12. Accordingly school has not claimed any exemption. Is there a need for School to get its books of accounts audited? If yes then under which section?
CAclubindia
