Taxability of donations recd by Society for construction

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A. Gupta (Querist)
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02 January 2011 Dear Friends,

An educational society has been registered under the Societies Act. It has not yet get registration u/s. 12AA & 80G of the Income Tax Act, 1961. During the last two years, the society has received corpus donations for the construction of the building of the school to be run by the Society. It has not filed its income tax return for the past years except for AY 2009-10.

My query is whether the donations received for the construction of the school are taxable income of the society?Society has not been undertaking any other activity.

Thanks and Regards.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 January 2011 For want of registration u/s 12AA, the donation received ,for building construction, is taxable under the status AOP.

A. Gupta

A. Gupta (Querist)
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03 January 2011 Thanks. Is there any way out to escape tax liability?

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