21 October 2007
Does the Trust whose object is welfare to the Society running a School and Charges fees for meeting its expenditure and Facilities provided to the student and earn Income/loss may be treated as a business activitiesand liable for tax audit u/s 44AB.
21 October 2007
Does the Trust whose object is welfare to the Society running a School and Charges fees for meeting its expenditure and Facilities provided to the student and earn Income/loss may be treated as a business activitiesand liable for tax audit u/s 44AB.
21 October 2007
Dear Sir Perhaps you have not understood my question.There is a difference between the Business and social activities/Welfare.If it is a Welfare surely then it is not a business hence Audit under section 44AB does not require.
CAclubindia
