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How to compute tax on the income of the associations

Tax queries 563 views 1 replies

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

Replies (1)

Mr. Reddy. H.

You must specify whether the status of the association i.e. is it registered u/s 12AA or any scientific association etc., then only we can know the taxability of the income of the impugned association.

Best Wishes

Sathikonda


CCI Pro

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