Audit report format of clubs

Stat Audit 1137 views 3 replies

I am doing the audit of a rotary club registered as AOP,  having 100 plus members .the club receives membership fees and outside donations for carrying out social works.since this year the club could not do much work due to covid pendemic and has Rs 500000 in hand . will it be taken as the income of the AOP or we can claim exemption on the basis of mutuality concern.

 

Replies (3)
Complaince of SEC 12A OF INCOME TAX ACT .
ROTARY CLUB REGISTRATION COMPLAINCE
the AOP is not registered under sec 12A

could u pls break up 5 lacs is this lying with AOP since py or earned in this year , only then it can be answered

 


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