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 to the tune of Rs.90,000 during previous year 2006-07.Is it mandatory for the school to file IT Return? If yes should it be in form ITR7 ?
05 April 2012
Since the income is below the taxable limit, it is not mandatory to file the return.
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