Taxation of Co-operative society
This query is : Resolved
26 May 2011
When it is compulsory to file income tax return of co-opertaive society, if so what is the due date? What is fine / penalty for non filing of Income tax return by co-operative society?
26 May 2011
Filing of return & due date & PAN/ TAN
Since there is no threshold limit for taxability of income in case of a co-operative society, it implies that if a society has any taxable income, it has to file a return of income
Since accounts of all co-operative societies are subject to statutory audit provisions under respective governing laws, therefore due date for filing return of income under the Income-tax Act, 1961 is September 30.
Filing of return & due date & PAN/ TAN
Since there is no threshold limit for taxability of income in case of a co-operative society, it implies that if a society has any taxable income, it has to file a return of income
Since accounts of all co-operative societies are subject to statutory audit provisions under respective governing laws, therefore due date for filing return of income under the Income-tax Act, 1961 is September 30.
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