Renewal of charitable organizations u/s 80 g section 12 a

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T Suresh (Querist)
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21 May 2015 charitbale organizations registered ed for exemption under section 12 A of IT ACT
and has approval of commissioner under section 80 g(5)(vi).Whether audit of books of account is mandatory when their gross receipts are below 1 crore and do they have to get their accounts audited under section 12A(b) of the Incometax act. Pleas clarify

CA SUNIL K GARG

CA SUNIL K GARG (Expert)
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21 May 2015 Yes, the account is to be audited it is a pre condition of sec 12 A(b).

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