Hello,
What is the status of a Society registered under Societies Registration Act, 1860 and a public charitable trust registered under 12A of income tax for the income tax purpose.
Please let me know judicial rulling (if any) in support of answer.
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Status of society for income tax
Replies (2)
Hello,
The society falls under the category of AOP/BOI as in the definition of 'PERSON" u/s 2(31) of income tax.
yes ..tanvi is correct..
moreover.. Trust has separate identity. its taxation regime is separately framed and regulated. So dont get confused in Trust and Society.
Society is taxed at varried rates depending upon the nature of its members and their tax slab.. whereas trust has nothing to do with the trustee for determination of tax rate.
moreover.. Trust has separate identity. its taxation regime is separately framed and regulated. So dont get confused in Trust and Society.
Society is taxed at varried rates depending upon the nature of its members and their tax slab.. whereas trust has nothing to do with the trustee for determination of tax rate.
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