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Itr 7 for Religious Institution

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

Dear Sir/Madam, Whether it is compulsory for a religious institution to get registered u/s. 12A/12AA. Also Please tell whether audit is compulsory for a religious institution. Please suggest at the earliest. Thanking you, Abhishek Roy Choudhury.

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4 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

I noticed that people often turned to fortune-tellers and pastors to fix their lives. At first, I thought it was all nonsense. But then when I had trouble myself, I decided that I definitely should also find a psychic. And I found a website with psychic websites where you can choose what suits you. I highly recommend it.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Sometimes it is very difficult to link together the physical world and the spiritual world..

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

ITR-7 is filed when persons including companies fall under section 139(4A) or section 139 (4B) or section 139 (4C) or section 139 4(D).

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Open uri20170510 32134 g51r02?1494421831 answered

Not compulsory to register under section 12A for religious institution,if you register can get exemptions under sec.11/12 WHY 12A REGISTRATION? 1)12A registration is one time exemption obtained by mosts Trusts, right after incorporation to be exempted from paying income tax. 2)Trusts and NGOs having 12A registration enjoy exemption from paying income tax on the surplus income of the Trust or NGO. 3)Income tax exemption is available for all non-profit NGOs. Hence, it is important for all Trusts, NGOs and other Not-for-Profit organizations to be aware of Section 12A of Income Tax Act and obtain the same, soon after incorporation of the Trust or NGO. 4)Tax audit u/s 44AB applicable where gross receipts exceeds 1 crore . . . If trust Registered under section 12AA in such case audit is mandatory when gross receipts exceeds basic exemption limit(i.e, 2,50,000)

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