Section 349

Section 349: return of income

Section 349 completes the three compliance triggers in this Chapter (books of account, audit, and now the return of income) that apply once a registered non-profit organisation's pre-exemption income crosses the basic exemption threshold.

This explanation is AI-assisted and pending review by our CA/CS team. It is general information, not professional advice - always cross-check against the bare law text above or talk to our tax team for guidance specific to your situation.

What Section 349 says

"Where the total income of a registered non-profit organisation, without giving effect to the provisions of this Part, exceeds the maximum amount which is not chargeable to income-tax in any tax year, it shall furnish the return of income for that tax year as per the provisions of section 263(1)(a)(iii) and (2), within the time limit allowed under section 263(1)(c) or 263(4)."

What this means

Using the same pre-exemption total income test as Sections 347 and 348, a registered non-profit organisation whose total income (before giving effect to this Part) exceeds the maximum amount not chargeable to income-tax must file its return of income under Section 263(1)(a)(iii) and (2), within the time limit allowed under Section 263(1)(c) or Section 263(4).

Frequently asked questions

Does a registered non-profit organisation always have to file a return of income?

The obligation under Section 349 arises once its total income, computed without giving effect to the exemptions under this Part, exceeds the maximum amount not chargeable to income-tax for the tax year.