Greetings to all,
My query is we have collected some funds from public as well as from old students towards arranging certain events like cricket tournament for alumni members. Now some funds are left out and we are planning to raise funds and conduct different activities each year. For this purpose we need a bank account. Bank officials have informed us to furnish PAN Card to open a Bank Account.
Now do we have to apply PAN for an AOP or Trust ? Also can i know what would be the tax implications ?
CAclubindia
