Taxability of aop

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Saurabh Gupta

Saurabh Gupta (Querist)
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09 May 2017 What would be taxability of an AOP running a religious institution ( A Mandir).

Amol S Joglekar

Amol S Joglekar (Expert)
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09 May 2017 it is taxable activity in the hands of AOP unless of course it has the registration under section 11 & 12 of Income Tax Act

Saurabh Gupta

Saurabh Gupta (Querist)
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09 May 2017 Thank you for the response sir, but what if it is registered as a society and what would be tax implications for donations received by it if all such donations are anonymous.

Amol S Joglekar

Amol S Joglekar (Expert)
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09 May 2017 Do you have registration u/s 11 and or 12 of the income tax act?

Saurabh Gupta

Saurabh Gupta (Querist)
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09 May 2017 yes under section 12

Amol S Joglekar

Amol S Joglekar (Expert)
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09 May 2017 set the procedure of opening the box in the presence of independent Umpires appointed by the society. Then you can claim the same as General Donation, to be spent on the objects of the society.

Saurabh Gupta

Saurabh Gupta (Querist)
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09 May 2017 1) Then to what extend these donations will be exempt if such independent umpire is appointed
2) And what would be the taxability of rent received from letting out beds of such religious place

Amol S Joglekar

Amol S Joglekar (Expert)
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09 May 2017 Exempt?.....you need to spend the money on the objects of the Society. The balance is taxable.

Saurabh Gupta

Saurabh Gupta (Querist)
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09 May 2017 And sir which ITR form will be filled and are there any other compliances with regards to audit of it.

Amol S Joglekar

Amol S Joglekar (Expert)
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09 May 2017 you may use ITR 5 for assesment year 2017-18......
Can you please give the 4 th alphbet of your society's PAN?

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Taxability of aop

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