Taxation of society
This query is : Resolved
Guest
Guest
(Querist)
20 December 2015
Pls suggest me how to deal.
A AOP is registered under society act 1860, 12A registration has not been done.
The main income is collection from members for running the association. Another income is dontion which is nominal amoount.
The total amount collected from members is more than 60 lacs and surplus amounts to 50 lac. Other income is fixed deposit income.
Kindly suggest me, tax implications. And deductions under chapter VI
Amol S Joglekar
(Expert)
20 December 2015
is the share of beneficiaries determinate or indeterminate?
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