Hi
Society registered under Society Act but not registered under income tax act. For the purpose of assessment, it willbe treated as trust or BOI?
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Society
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AS PER TRUST,
DEFINATION OF CHARITABLE TRUST (SECTION 2) (15) INCLUDE PRESERVATION OF ENVIORNMENT INCLUDING WATERSHADES,
AND AS PER SECTION 115BBC,FINANCE ACT, 2006
ANONYMOUS DONATION TO THE EXTENT IT EXCEED HIGHER OF 5% OF TOTAL DONATIONS RECEIVED OR RS. 1, 00,000.00 SHALL BE TAXABLE @ 30% AS PER AMENDMENT BY FINANCE ACT 2010 ON BUDJET.
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