23 January 2018
Dear Sir /Madam In village they construct a temple for which they collect donation. Hence they will need a bank account in a common village name or temple name and they formed one committee (they are forming without any agreement) for doing that activity in relation to temple. Whether it will form as AOP or Trust or Society .kindly give your valuable suggestion.
23 January 2018
Thank you for your reply sir but the members are not interested to register as trust because main purpose for forming this trust is management of funds collected for construction of temple and the amount is expected to around 20 lakhs . After the construction is completed we may not have sufficient cause to run the trust.So can we form a unregistered trust and If we form how to file income tax return ?
24 January 2018
Thank you sir if we form as AOP and entire collection fund is utilized for construction. Is it possible sir AOP can collect donation and utilization of funds to temple? or form as Society ? for both what kind of tax implication sir.
24 January 2018
Thank you for the valuable reply sir. You mentioned the word” registered with income tax “which means draft a deed and which tells about collection of donation and utilization of donation for religious purposes and the same is to applied and get the Pan for that and registered with income tax and filing return as AOP for that we avail exemption for that donation or for above my understanding is wrong please give me a details for the following. 1) How to registered with income tax as AOP and collect donation 2) What are the procedural part register with income tax and collect donation as AOP.
CAclubindia
