Trust or society

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2017 One of my client wants to run a school, now what will be the better way under a trust or a society or by his own name....

Secondly what are the expenses allowed under these in future and can he get the profit out from these for his benefits or no ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

25 November 2017 If he wants to take profit from the school for his benefit then run the school in his own name and pay applicable taxes.
Tax not applicable on school run with no profit motive under society/trust.

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2017 So if he needs to take profit then what are the legal requirements for that... how to register a school i mean to say do he need to take pan no of school or gst no or something else

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2017 So can client get CBSE affiliation if he runs school on his own name

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

25 November 2017 Register with local authorities and obtain PAN GST not applicable.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

25 November 2017 CBSE affilation not available for individual run school.
https://www.google.co.in/url?sa=t&source=web&rct=j&url=http://cbseaff.nic.in/cbse_aff/Affidavit/Sample%2520Affidavit.docx&ved=0ahUKEwi8ufymrNnXAhVDm5QKHQtnBdYQFgg8MAI&usg=AOvVaw0hci3NSfZw5MYvS1AIa_7x

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2017 So that pan no will be on school name and not on the name of the owner who is running this school ... then Pan application will be based on Firm or something else sir

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

25 November 2017 In case of individual PAN should be in his name.