Please Help: Society Tax Audit
Posted Date : 27-Jul-2013 , 02:24:05 pm | Posted By Mustafa
Is society formed under Rajasthan society act is liable for tax audit ? Its total income is above exemption limit and it is not register under sec 12A/AA and approval is also not obtain under section 35 and 80G ? Its formed by farmers to get accurate compensation from govt for land acquire by govt. for building dam and also to preserve the forest? In which ITR it is to be filed ITR 5 or 7 ???
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Category : Income Tax | Answers : 1 | Comments : 0 | Hits : 49
Answers
Answer By: SUBHASH KUMAR JHA
ACCORDING TO SECTION 44AB OF INCOMETAX ACT IF TURNOVER EXCEED rS.100,00,00 THEN THAT ASSESSEE IS SUBJECT TO TAX AUDIT . SO CHECK TURNOVER
ITR WILL BE 1 OR 2 OR 4
ITR WILL BE 1 OR 2 OR 4
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