Income tax applicability of society
This query is : Resolved
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
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
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.
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.
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
- Supply through E-commerce Operators
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- Specified Profession
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- SALE BILL AGAINST GOODS RETURN
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
