Taxability of aop
This query is : Resolved
09 May 2017
What would be taxability of an AOP running a religious institution ( A Mandir).
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
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.
09 May 2017
Do you have registration u/s 11 and or 12 of the income tax act?
09 May 2017
yes under section 12
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.
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
2) And what would be the taxability of rent received from letting out beds of such religious place
09 May 2017
Exempt?.....you need to spend the money on the objects of the Society. The balance is taxable.
09 May 2017
And sir which ITR form will be filled and are there any other compliances with regards to audit of it.
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?
Can you please give the 4 th alphbet of your society's PAN?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Form 121 & TDS deduction
- LC charges in relation to Asset purchased should be Capitalised ?
- Regarding appeal to GSTAT
- Multiple trade mark
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
