Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Society

145 views 1 replies

ROSHAN RAJ SINGH

Finance Professional

24 Points Joined September 2015

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 ?

Replies (1)

Nitesh bind

Student CA Final

12692 Points Joined October 2012

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.