Audit report format of clubs

This discussion addresses the audit report format for a Rotary Club registered as an AOP with over 100 members. Key concerns include how to classify membership fees and donations, especially with Rs 500,000 currently held due to the pandemic's impact on activities. The core question revolves around whether this sum is treated as AOP income or if an exemption can be claimed based on the principle of mutuality, particularly for clubs not registered under SEC 12A of the Income Tax Act.