I have a society registered under Society Registration Act, 1860. Its total income is Rs. 180000. is it required to get audited under Income tax law and any other laws ?
1 Replies
Nitesh bind
(Student CA Final )
(12692 Points)
Replied 29 December 2018
for audit purpose GROSS RECEIPTS are seen and not the total income. Therefore, if your Gross Receipts are under 2,50,000 then you don't need to get your audit done.
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