IT return for school
This query is : Resolved
26 March 2008
An English medium school(Registered under Societies Registration Act) has excess of income over expenditure of Rs.90,000 during previous year 2006-07.Is it mandatory for the school to file I-T Return? If yes should it be in form ITR-7?
05 April 2012
Since the income is less than the exemption limit, it is NOT mandatory to file the return.
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