For the below question we will form as aop or trust/society

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This query is : Resolved

YUVARAJAN T (Querist)

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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

23 January 2018 Form a religious trust.

YUVARAJAN T

YUVARAJAN T (Querist)

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 ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

23 January 2018 If you form unregistered trust 30% tax payable on 20 lacs

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YUVARAJAN T

YUVARAJAN T (Querist)

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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

24 January 2018 AOP/ society can be formed donations exempt only registered with income tax.

YUVARAJAN T

YUVARAJAN T (Querist)

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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

24 January 2018 Contact near by CA he will help you.

YUVARAJAN T

YUVARAJAN T (Querist)

24 January 2018 As a student i got a good experience with you
Thank you for your valuable time and response
thank you sir

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

25 January 2018 Welcome..................

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