Our club a non profitable organization and the pan card of club issued under Association of Person, main source of fund is subscripttion receive from members and some donation we received against some pooja or social program - what are the parameter to calculation of Income for income tax purpose, I think Subscripttion received from members are treated as turnover - please clarify and the accounting procedure - Thanks
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INCOME TAX ON CLUB - A NON PROFITABLE ORGANISATION
Replies (1)
Correct, All the donations will also be taxable as per AOP slab rate.
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