What will be the recource if the society has been registered under society registration act, 1860 in Haryana and no application for registration under sec 12A has been filed within 1 year of registration despite the income is below the minimum taxable income exempt limit
Will be all income above Rs 2 lac will become taxable for all the future years.
16 December 2013
Yes, the income exceeding Rs 2.00 lac will be taxable. If it does not apply for registration. . However, Your society can apply for Registration U/s 12A(1)(aa). .