It rate and itr form number
This query is : Resolved
20 April 2015
There are three parts in my query
1. Is a Membership Club is treated as AOP or BOI?
2. What is the rate of tax to be paid on interest earned on Bank Deposit by the Club, if not treated as AOP or BOI.
3. What is the ITR form to be submitted for filing the return (ITR 1 or ITR 2)
Ramanujam S
1. Is a Membership Club is treated as AOP or BOI?
2. What is the rate of tax to be paid on interest earned on Bank Deposit by the Club, if not treated as AOP or BOI.
3. What is the ITR form to be submitted for filing the return (ITR 1 or ITR 2)
Ramanujam S
21 April 2015
1. It should be treated as AOP.
2. It has to be treated as AOP, if no member of the club is earning taxable income then tax slab applicable to individual is applicable.
3. ITR 5 has to be submitted.
2. It has to be treated as AOP, if no member of the club is earning taxable income then tax slab applicable to individual is applicable.
3. ITR 5 has to be submitted.
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