What Is Form 990: Return of Organization Exempt From Income Tax? Even organizations exempt from paying federal income tax must report their activities annually to the Internal Revenue Service (IRS).

The Federal Form 990-T is the exempt organization Business Income Tax Return. Click on the link to view current and prior years' filled returns.

When it comes to your business structure ... property and income tax exemptions at the state level. The IRS points out that while most federal tax-exempt organizations are nonprofit organizations ...

Put simply, if your income is over Rs 15 lakh and you claim tax deductions worth at least Rs 4.33 lakh (plus standard deduction of Rs 50,000 under the old structure) or more, you will save more ...