Income of aop
CA. Parth Sharma (CA) (82 Points)
11 February 2017CA. Parth Sharma (CA) (82 Points)
11 February 2017
Ashok Kumar
(CA qualified)
(389 Points)
Replied 11 February 2017
School is not a separate assessee for Income tax purpose. Income of the school will have to be assessed in the hands of AOP
It is better to get registration u/s 12A as education is covered under Charitable purposes, so as to claim exemption u/s 11 and 12