school income

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whether income earned by a school is business income or professional income.what is the limit for tax audit.

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All educational institutes are registered under society act and there are no income generated in books. If any income shown in B/S that will be carried forward to next year.

 

>> Rajesh

Originally posted by :vinod bajaj
" whether income earned by a school is business income or professional income.what is the limit for tax audit. "


 

it is a private school and not a society

It is not a society? Is it a proprietory concern,partnership or private ltd company?  you have to follow the normal procedure


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