Itr filing

Originally posted by : Chaitanya Bhat
	Friends.......please give me the solution. The Assessee's status is AOP. It is not registered under Section 12A of the Income Tax Act, 1961. Total income of the assessee is Rs.1,35,554. The Assessee wishes to claimed TDS refund of Rs.9,344. Which ITR should be filed?

FORM ITR 5

In ITR 5, "Nature of Business" field is mandatory. But the Assessee is not carrying on any business. It is a Sangha (Society) carrying on charitable activities. Further, In ITR 5, Members details, their percentage of share etc are mandatory which are not applicable to the Assessee.

File return in ITR 7. Select No for registration u/s 12A 

However, as your AOP is not registered in sec 12A you will not get benifit of sec 11 and 12.

Marginal rate of Tax @ 30% is charged on the net surplus arising from its activities and in this case filing of IT return ( u/s 139(1) is must irrespective of any monetary ceiling.

Though in some cases, some courts had held that tax rate @ 30% shall become applicable only on the income over and above Rs. 2lacs ( i.e. tax exemption limit available to an individual).

I hope that your query is adequately responded.

Yes.........Thank You.

But, the Assessee dont want to pay tax @ 30%. His intention is to cliam refund of TDS already made. I think there is no way.

Originally posted by : Chaitanya Bhat
	In ITR 5, "Nature of Business" field is mandatory. But the Assessee is not carrying on any business. It is a Sangha (Society) carrying on charitable activities. Further, In ITR 5, Members details, their percentage of share etc are mandatory which are not applicable to the Assessee.

I have replied to your question of AOP. If its for charitable or religious purpose as earlier not mentioned by you, ITR 7 would be applicable and income would be taxable and benefit of 85% is also not allowed because society is not registered u/s 12A.  If your society is registered under the Co-operative Societies Act, 1912 , then you can think about claiming of 80p if you are eligible. Further for rate of taxation it would depend upon Income and members. 

Contact a expert CA in that case.

OK..........Thank You