Dear Friends/Sir/Experts,
I want to know how to compute income tax on the income earned by the associations which are registred . I today come across and completed the preparation of Balance sheet and Income and expenditure of the Association, whose Income for the fianancial year 2008-09 arived at Rs.6,25,430.00 and now i want to know how to compute the tax on the above income or what is the procedure for the computation of income of such associations.
Please help me regarding the above matters