Not filled return for last 16 years...

Dear All,

Actually my Client is a club. It have fillied its return last for the FY 93-94. Now it want to file its return once again and want to fulfill all the requirement in future. so pls guide my the best possible ways for the club.  During this period the club does not have any income. Please tell me:

1) What is basic exemption limit for clubs?

2) Should it file the previous year returns or it should start with return for FY 10-11?

3) Any other help full details if any..

 

Thanks

Replies (4)

first tell about person... is this club is a company or AOP/BOI...???

In case, or Company, no exemption and in case of AOP/BOI, basic exemption applicable to Individual (other) will apply (i.e. Rs. 160,000)..


It is a club and not a company or AOP/BOI.

 

Thanks

Sec 2(31) of the Income Tax Act, 1961 categorize types of assessee as below

 

“person”65 includes—

     (i)  an individual65,

    (ii)  a Hindu undivided family65,

   (iii)  a company,

   (iv)  a firm66,

    (v)  an association of persons66 or a body of individuals66, whether incorporated or not,

   (vi)  a local authority, and

   (vii)  every artificial juridical person, not falling within any of the preceding sub-clauses.

            67[Explanation.—For the purposes of this clause, an association of persons or a body of individuals or a local authority or an artificial juridical person shall be deemed to be a person, whether or not such person or body or authority or juridical person was formed or established or incorporated with the object of deriving income, profits or gains;]


So tell me, in which category your club fall...??


Further, now you can file ROI for the FY 2010-2011 only.


I guess the club has not obtained any PAN till now, mention your PAN details 1st

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