Business held by the ngos
This query is : Resolved
ashok satpathy
(Querist)
12 December 2013
Income tax impliplication on the business income of a Society having 12 AA Regn.of the IT Act. if entire income of the society is from that business exceeding 25 lacs.
12 December 2013
if it is from proper commercial business then it will be treated as Advancement of General Public Utility, and if Income exceeding Rs. 25 Lakh, then trust will loose it exemption u/s 11 even though registered.
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