Annual collection of corpus fund from the members of aop
This query is : Resolved
Dr RAJESH TAYAL
(Querist)
06 April 2018
we are the doctors and make our association and got the pan number under AOP, we are not registered u/s 12A or any other, i want to know if we collect annual corpus fund from our life members is it taxable or not
06 April 2018
Not taxable because
corpus fund which is meant for specific purpose to meet out capital expenditure
could not be part of annual receipts of the institution, even if not registered
u/s 12AA.
corpus fund which is meant for specific purpose to meet out capital expenditure
could not be part of annual receipts of the institution, even if not registered
u/s 12AA.
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