PROPRIETOR
26 Points
Posted on 31 January 2015
I. A SOCIETY REGD UNDER SOCIETY ACT
II. BUT NOT REGD UNDER SECTION 12A
III. FOURTH CHARACTER OF PAN IS "A".
IV. DOING BUSINESS ACTIVITY AND SOCIALSERVICE
V. PROFIT IS LESS THAN MAXAMOUNT LIABLE TO TAX
VI. MEMBERS ARE NOT ENTITLED TO PROFIT SHARING
WHAT WILLBE TAX LIABILITY IN THIS CASE.
HOW TO REFLECT IN ITR -V