A PSU (Public Sector Unit)’s employees make a Recreation club. A PSU bare all expenses to operate the said Club. The said Club has own by laws. The activates of the said Club are members welfare, organized social occasion, get to gather etc. Now my question is…. 1. Is it mandatory to register the said Club? 2. If yes, when and which govt.dept register the said club? 3. Any liabilities under Income Tax?
Guest
Guest
(Expert)
15 December 2011
15th December, 2011
Dear Navin,
The Club has to be registered in keeping with its bye-laws under any one of the following Acts :
Non-profit organizations created for the larger public good 1. The Societies Registration Act, 1860 2. The Indian Trusts Act, 1882 3. Public Trust Act, 1950 4. The Indian Companies Act (Section 25), 1956
Provisions of relevant Sections of the Income Tax Act will apply.
CAclubindia
