Section 40(ba)
This query is : Resolved
02 September 2022
Dear Experts,
in the case of an association of persons or body of individuals [other than a company or a co-operative society or a society registered under the Societies Registration Act, 1860 (21 of 1860), or under any law corresponding to that Act in force in any part of India], any payment of interest, salary, bonus, commission or remuneration, by whatever name called, made by such association or body to a member of such association or body.
My question is
1. Society registered under society registration act, 1960 in Karnataka will exclude from section 40(ba) same like Societies Registration Act, 1860?
2. In AOP if member worked as an employee how to take salary or remuneration?
in the case of an association of persons or body of individuals [other than a company or a co-operative society or a society registered under the Societies Registration Act, 1860 (21 of 1860), or under any law corresponding to that Act in force in any part of India], any payment of interest, salary, bonus, commission or remuneration, by whatever name called, made by such association or body to a member of such association or body.
My question is
1. Society registered under society registration act, 1960 in Karnataka will exclude from section 40(ba) same like Societies Registration Act, 1860?
2. In AOP if member worked as an employee how to take salary or remuneration?
Dhirajlal Rambhia
(Expert)
02 September 2022
1. Yes.
2. Salary.
2. Salary.
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