Religious instituition & Section 12AA
This query is : Resolved
20 December 2009
My query is related to Setion 12A & Setion 115BB Fro AY 2007-08
Whehther the "anonymous donation" recived by religious instituition or hcaritable organisation will be taable @ 30%
1)if it has exeption u/s 12AA
2) if it doest not hae exemption u/s 12AA
if it doesnt have eemption u/s 12AA can it be taxble as AOP and get dedution of Ependiture laied in P& L A/.
Whehther the "anonymous donation" recived by religious instituition or hcaritable organisation will be taable @ 30%
1)if it has exeption u/s 12AA
2) if it doest not hae exemption u/s 12AA
if it doesnt have eemption u/s 12AA can it be taxble as AOP and get dedution of Ependiture laied in P& L A/.
21 December 2009
in case of religious trust 115BB is not applicable but in other cases such donations are taxable @ 30% study page A-372 para 216.6 of ready reconer of taxmann 32nd edition
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