12 March 2014
An Association is registered under Society Registration Act, 1860.
The object clause of the Association runs thus:
A. To serve a common platform for all post-graduate college in the state for development in respective higher education.
B. The income derived in whatever way shall be utilized for promoting the above objectives of the Association and shall not be distributed among the members of the Association or any body as dividend
My query is:
How the Association would be taxed. Is there any exemption in this regard. How the exemption is to be claimed
CAclubindia
