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Exemption of Employee welfare association.
Is the receipts/income of employee welfare association/union exempt under income tax act and whether filing ITR and Audit Report is mandatory for such AOP?
Replies (2)
The income of an AOP is taxable unless specifically exempt.
However, this exemption is not applicable to EWAs.
The audit report must be submitted in Form 3CB along with the ITR.
*Additional Requirements:* Additionally, an EWA or union may need to:
1. Obtain registration under the Trade Unions Act, 1926 (if applicable).
2. Register under the Income-tax Act (if not already registered).
4. Maintain proper accounting records and comply with other regulatory requirements.
Thankyou Sir🙏🙏
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