Religious instituition & Section 12AA

This query is : Resolved

narinder (Querist)
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20 December 2009 My query is related to Setion 12A & Setion 115BB Fro AY 2007-08

Whehther the "anonymous donation" recived by religious instituition or hcaritable organisation will be taable @ 30%

1)if it has exeption u/s 12AA
2) if it doest not hae exemption u/s 12AA

if it doesnt have eemption u/s 12AA can it be taxble as AOP and get dedution of Ependiture laied in P& L A/.

CA Sanjeev Kr Jain

CA Sanjeev Kr Jain (Expert)
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21 December 2009 in case of religious trust 115BB is not applicable but in other cases such donations are taxable @ 30% study page A-372 para 216.6 of ready reconer of taxmann 32nd edition