I am registering a Society in Himachal Pradesh to build and run a school. Do one of its members needs to deduct TDS while contributing to the society a large amount say Rs. 30 lacs to build school building ?
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TDS need to be deducted while contributing to education society by its members
Replies (6)
Contribution is in terms of society corpus a Trust body. TDS provisions are not applicable.
Thanks Praveen. One more clarification, is above comments applicable even if l just have registered the society and not applied for exemption under 80G. Thanks for your help in advance.
80 G registration is different and 12 A registration is different. It is just enough if you have 12A Registration. 80 G is for 'Donation' and 12A is for 'Corpus'. (Sec 11(1)(d)).
You have to go for Registration of society under State Trust/society Act as well as registration under income tax department.
You may apply for 80G as it gives 80G deductions to donor. It's at your option.
You may apply for 80G as it gives 80G deductions to donor. It's at your option.
Thanks Keerthi. This is helpful.
Thanks Pravin. Sorry for sounding foolish but just want to clarify that suppose l just registered a society to build and run a school and not registered it under Income tax department and one of the members of the society wants to contribute a corpus of around Rs. 30 Lacs for school building in that case will he/she have to deduct TDS or not?
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