Trade association - Mutuality Concept
This query is : Resolved
15 September 2021
Dear Experts
Subscribtion fees received by the club is exempted on the pricniple of mutuality. Suppose the assocaition receives Rs 2 lakhs in total as subscribtion from all the members every year. And it has an accumulated deposit of Rs 5 lakhs. Can this 5 lakhs deposit be donated to a 12A registered trust.
Please guide
Subscribtion fees received by the club is exempted on the pricniple of mutuality. Suppose the assocaition receives Rs 2 lakhs in total as subscribtion from all the members every year. And it has an accumulated deposit of Rs 5 lakhs. Can this 5 lakhs deposit be donated to a 12A registered trust.
Please guide
16 September 2021
As such no; unless there is any clause in MOU for such donation.
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