REAL ESTATE & BUILDERS ASSOCIATION:
SOURCE OF RECEIPTS: corpus fund/building fund from members ,permanent membership fee,temporary membership fee, life membership fee.
.Association conducts meetings, addressed by eminent experienced engineers and People connected to different products in the construction field, to educate the members. Also arrange product exhibitions by manufacturers, which are useful in construction field and collects money from exhibitor & meets the expenditure balance amount if any will be utilized for the development of association. Similar exhibition from members to general public for sale of flats, apartments, plots Farm houses etc. no income will be districted to members and the income will be utilized for development of association. whether any income is taxable on mutuality basis, can they claim the income as exempted as in the case of clubs.
CAclubindia
