Can i claim 10(23c)(iiiad) without applying registration

Tax queries 773 views 3 replies

Vijay Kumar

Student

44 Points Joined January 2011

Dear sir,

Assessee is a Private school Registered as a society for soely imparting education , district register certified the not for profit motive.

TURNOVER for the FY 2015-16 was 85 laks and TURNOVER for the FY 2016-17 was 1.4 crores.

My Question is for FY 2015-16 shall i claim 10(23c)(iiiad) directly? or shall i obtain any approval ?

and for FY 2016-17 44AB aplicable?

Replies (3)

Vijay Kumar

Student

44 Points Joined January 2011

Originally posted by : Vijay Kumar
	Dear sir, Assessee is a Private school Registered as a society for soely imparting education , district register certified the not for profit motive. TURNOVER for the FY 2015-16 was 85 laks and TURNOVER for the FY 2016-17 was 1.4 crores. My Question is for FY 2015-16 shall i claim 10(23c)(iiiad) directly? or shall i obtain any approval ? and for FY 2016-17 44AB aplicable?

shivashankar

chartered accountant- practice

32 Points Joined January 2009

For 2015-16 you may claim deduction U/s 10(23c)(iiiad) and Tax audit is applicable only for business income.

Dear sir ...after crossing 1cr income society have to obtain 10(23c)iv from prescribed authority.. but we didn’t obtained that certificate, how to file return now ? For FY 2016-17 if a file ITR5 as AOP MMR AND 3cb3cd what will happens?