Tax planning- principle of mutuality ???

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CA Abhishek Singh (Querist)
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15 April 2012 hello everyone,

one of our client has taken franchise of star health insurance. Under him there are more than 100 agents working, who procures business for the star health and in turn our client gets commission from star health insurance company.

He also collects annual fees form the agents working udner him and that money is utilised for providing training to the agents working under him. and also for conducting motivational lectures for the agents working under him.

As per my knowledge as per principle of mutuality profit arising from the agents/members contribution shall not be taxable.

MY DOUBT:
1. What will be the status of such association , i know that it will not be AOP ?

2. How can i get his PAN Card & how to claim tax exemption ?

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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16 April 2012 In case of principals of mutuality no tax will attract

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