Society treatment under it act
This query is : Resolved
20 May 2016
If there is any entity calling itself a registered society is there (not registered under Income tax act):
1.) What is the treatment of such entity under Income tax Act- Which Person?
2.) Slab rate Applicable for taxation
3.) Please provide relevant section/ notification number/ clarification number etc to support your opinion.
1.) What is the treatment of such entity under Income tax Act- Which Person?
2.) Slab rate Applicable for taxation
3.) Please provide relevant section/ notification number/ clarification number etc to support your opinion.
Soumitra Basu
(Expert)
25 May 2016
It will be treated as AOP and if all the members are taxable then the maximum marginal rate i.e. 30% is applicable on Total Income.
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