Taxation of a society
This query is : Resolved
12 March 2014
An Association is registered under Society Registration Act, 1860.
The object clause of the Association runs thus:
A. To serve a common platform for all post-graduate college in the state for development in respective higher education.
B. The income derived in whatever way shall be utilized for promoting the above objectives of the Association and shall not be distributed among the members of the Association or any body as dividend
My query is:
How the Association would be taxed. Is there any exemption in this regard. How the exemption is to be claimed
The object clause of the Association runs thus:
A. To serve a common platform for all post-graduate college in the state for development in respective higher education.
B. The income derived in whatever way shall be utilized for promoting the above objectives of the Association and shall not be distributed among the members of the Association or any body as dividend
My query is:
How the Association would be taxed. Is there any exemption in this regard. How the exemption is to be claimed
12 March 2014
under income tax dept how it is registered as AOP or trust etc?
12 March 2014
not yet registered.
Which section is beneficially applicable section 10(23C) or Section 11 & 12.
Which section is beneficially applicable section 10(23C) or Section 11 & 12.
13 March 2014
There is no exemption in this regard, as per Apex court decision and there are the provision of taxation in Income Tax Act
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- When TDS on GST applied
- TDS APPLICABILITY......
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
