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Taxation on income of school

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(Querist)
06 October 2014 Sir/Mdm,
What is tax treatment for School formed under Society.
It is tax free or not?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
07 October 2014 as long as turnover is less than Rs 1 cr and that the motive of the school is not-for-profit, you get exemption without any requirement for registration with income-tax authorities.

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