TAXATION OF WELFARE SOCIETY
This query is : Resolved
19 February 2010
CAN ANYBODY HELP ME ON THE FOLLOWING ISSUES REGARDING TAXATION OF WELFARE SOCIETY REGISTERED UNDER SOCIETY ACT'1860
1. WHICH ITR FORM REQUIRED FOR RETURN, IS ITR 5 OR ITR 7. PLS SUGGEST ME
2. CAN WE FILE RETURN AFTER DUE DATE, IF YES HOW MUCH PENALTY OR INTT WILL BE PAYABLE.BECAUSE MY CLIENT HAS NOT FILLED RETURN SINCE HE GET THE REGISTRATION (08.01.2008)
3. MANDATORY AUDIT IS REQUIRED OR NOT
4. IS SLAB RATE FOR INCOME TAX IS
RS. UPTO 10,000 IS 10%
RS 10,001 TO 20,000 IS 20%
RS. ABOVE 20,000 IS 30%
1. WHICH ITR FORM REQUIRED FOR RETURN, IS ITR 5 OR ITR 7. PLS SUGGEST ME
2. CAN WE FILE RETURN AFTER DUE DATE, IF YES HOW MUCH PENALTY OR INTT WILL BE PAYABLE.BECAUSE MY CLIENT HAS NOT FILLED RETURN SINCE HE GET THE REGISTRATION (08.01.2008)
3. MANDATORY AUDIT IS REQUIRED OR NOT
4. IS SLAB RATE FOR INCOME TAX IS
RS. UPTO 10,000 IS 10%
RS 10,001 TO 20,000 IS 20%
RS. ABOVE 20,000 IS 30%
23 March 2013
ITR-5
the Society shall be taxed as AOP i.e it shall get an exemption of Rs. 2 lakh and only income received from non-members shall be taxed.
Anuj
the Society shall be taxed as AOP i.e it shall get an exemption of Rs. 2 lakh and only income received from non-members shall be taxed.
Anuj
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