Person under IT Act?
This query is : Resolved
05 November 2008
A school started by an individual will be assessed for IT Act under which category of Person assuming if it is not a charitable trust or not registered as trust
05 November 2008
AOP or individual if it is run on proprietory basis.
05 November 2008
It depends upon the status of the person who is managing the affairs of the school and has employed capital in the project. In case the funds are invested by an individual then as Individual. In case there are two or more individuals without executing a partnership then as AOP.
05 November 2008
Individual only...
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