ABC is a society regd under the Societies Registration Act. However it has not taken any section 12 exemption. The sources of income are donations, members contribution and a little bit of business activity through its associate arm. Now my query is how the income of the society will be treated under Income Tax and which ITR to be used?
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How to treat Society income??
Replies (1)
Mr.S.Kumar
The society will be a taxable entity as AOP (Association of Persons).
Best Wishes
Sathikonda
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