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Income tax applicability of society

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This query is : Resolved

Amit Nandy (Querist)

19 July 2014 Please let me know the following queries.

1) If a society not registered under 12A but registered under society act shall they enjoy the IT benefit.
2)If the society collect advertisement or other kind of support in terms of money in that case all the fund received by society treated as donation.
3) Whether the donation income is taxable after the expenditure made by the society in that specified period.
4) If the society registered under 12A then the entire income will be non taxable.
5) If the income is taxable both the case with or without 12A registration( if tax applicable for 12A) what will be the tax rate.

Regards
Amit Nandy

Regards
Amit Nandy

Nikhil Kaushik

Nikhil Kaushik (Expert)

19 July 2014 1. No

2. no. in absence of 12A everything received it an income

3. in absence of 12A registration, the surplus shall be taxable

4. yes

5. in absence of 12A, tax rate as applicable to AOP shall apply.

5.

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