Regarding it returns

JAMANA DURGA PRASAD (Querist) 30 August 2015 This query is : Resolved
Sir, I am running an educational institution (school) which was registered as AOP (not TRUST) in IT Department, now I have to file IT Return for the A.Y: 2015-16. And school was wholly for charitable purpose not for profit motive. so, now I want to claim exemption u/s.10(23c) but when I am filling ITR form – 5 for AOP, there is no option for exemption u/s.10(23c) in that form. Only ITR – 7 has that option. My doubt is which ITR should be filled by me.

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C. SANJEEVA RAO (Expert) 31 August 2015
u hv n't mentioned that whether u hv applied for registration u/s.12AA of the Income-tax Act, 1961, this is more important to get exemption from payment of Income-tax, and u hv written that yours is AOP, In my opinion AOP is not entitle to any exemption. Better u consult ur local Tax Consultant or Expert Income-tax Practitioner or Chartered Accountant

Rajendra K Goyal (Expert) 31 August 2015
Consult local tax consultant and discuss.

T. Kalaiselvan, Advocate (Expert) 04 September 2015
Rightly advised by expert Mr. Sanjeeva Rao, better follow his advise.

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