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.
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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