Question ID :
40436
Sec 12A Registered Society not filed ITR with in due time
A Society is Registered in Sec 12AA. The Society is running a School. Its current year Receipts are Rs 2 cr and Application of Income ( Expenses ) are Rs.2.50 cr. Due to some unavoidable circumstances, it not able to file its ITR within due date. What will be Tax implications ? Whether it will be Taxed on Rs.2 cr Receipts or at Nil, since its in loss of Rs.0.50 cr. Whereas its not taking benefit of Sec 11 due to loss.
posted by
AJAY JAIN
on
Oct 18 2019 12:00AM