For the below question we will form as aop or trust/society
This query is : Resolved
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.
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
Form a religious trust.
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 ?
23 January 2018
If you form unregistered trust 30% tax payable on 20 lacs
Message likes :
1 times
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.
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
AOP/ society can be formed donations exempt only registered with income tax.
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.
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.
24 January 2018
Contact near by CA he will help you.
24 January 2018
As a student i got a good experience with you
Thank you for your valuable time and response
thank you sir
Thank you for your valuable time and response
thank you sir
25 January 2018
Welcome..................
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
