A builder has agreed to give us some corpus fund on redevlopment of our society there are 2 views that we are aware of
a)The corpus can be given in the name of the society and then the society distributes among its members
b the builder makes the individual cheques in the name of members
We are told that in the first case there would be double taxation once in the hands of the society and another individually whereas second option only once
what is the correct option to go in terms of taxation
CAclubindia
