Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Income of socities

RAJ KUMAR (FINANCE MANAGER) (1393 Points)

02 January 2014

HELLO FRIENDS, PLS. TELL ME WHETHER INCOME OF TEMPLES OR GURUDWRAS REGISTERED UNDER SOCITIES ACT, IS EXEMPTED AUTOMATICALLY UNDER SEC 10 OR WE HAVE TO APPLY FOR SEC 12A REGISTERATION.

IS THERE ANY LIMIT OR NOT?

PLS. HELP ME.

THANKS.

Reply
Follow
Share

4 Replies

Jeetendra Goyal (Student CA Final ) (175 Points)
Replied 02 January 2014

registration is must...... slab rate applicable for individual are applicable for trusts

Upgrade to CAclubindia Pro. Subscribe Now!

RAJ KUMAR (FINANCE MANAGER) (1393 Points)
Replied 02 January 2014

IF SURPLUS IS MORE THAN 2 LAKH (INCOME-EXP), THEN REGISTERATION IS COMPULSIORY OR WE HAVE TO APPLY FOR REGISTERATION FROM THE BEGINNING.

PLS. HELP ME.

THANKS.

Jeetendra Goyal (Student CA Final ) (175 Points)
Replied 04 January 2014

if gross receipts(including all types of donations) are more than Rs 200000 then registration is must for getting income tax exemption.........exemption can be availed from the p/y in which application for registration is filed....