Income tax return of society

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Pooja (Querist)
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10 May 2012 Dear sir,

if the society is not registered under the section 12A and it only registered under the society act, than please tell me in which ITR the return of income will be filed of that society.
in both the case:

1. when the society worked to help the poor child
2. when the society provide the security guard to the other organisation.

chaitanya cherukuri

chaitanya cherukuri (Expert)
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10 May 2012 All the donations will be taxable as your not registered u/s Income tax Act. Irrespective of the purpose for which the Donations are used. Kindly get it registered with income tax act, to get exemption of donations recieved

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CA Navin Jain

CA Navin Jain (Expert)
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10 May 2012 YOU CAN FILE ITR-7, BUT YOUR INCOME WILL BE TAXABLE AND SOCIETY CAN NOT AVAIL THE BENEFIT OF 85% AMOUNT UTILIZE BECAUSE SOCIETY IS NOT REGISTERED UNDER SECTION 12A

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CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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10 May 2012 You can claim additional deduction u/s 80P of income tax and rate of tax shall be as follows-

Income up to Rs.10,000-10%
Income Rs. 10,001 to Rs. 20,000-20%
Income Rs. 20,001 onwards 30%

The above rates to be increased by 2% education cess on income tax & 1% secondary & higher education cess on income tax. No Surcharge is applicable

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Pooja

Pooja (Querist)
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11 May 2012 thank you sir

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Pooja

Pooja (Querist)
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11 May 2012 Navin sir,

if the society received the membership fee or any other receipts (like its charges the fee for conference)than it also be treated as donation or the the income will be taxable after the net off (means after the deducting the expenses related to such income).

CA Navin Jain

CA Navin Jain (Expert)
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11 May 2012 First, show the mambership fee as income then book the expenses in the books of account.

Hence. net amount will be taxable.

Pooja

Pooja (Querist)
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11 May 2012 thank you sir

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