Yash Sharma (CA - FINAL) (138 Points)
13 July 2012WHT R THE TAX SLAB FOR SOCIETY ?
IS THERE AUDIT LIABILITIES APPLICABLE FOR SOCIETY?
SOCIETY IS REGISTERED UNDER SOCIETY ACT BUT NOT REGISTERED U/S 12A WITH INCOME TAX .
PLZ SUGGEST THE PROCEDURE FOR FILING OF ITR OF SOCIETY WORKING FOR WELFARE OF WIDOWS IN RURALS AREAS WITHOUT ANY GOVT GRANTS .
Pawan Mittal
(CA Final)
(711 Points)
Replied 14 July 2012
Dear Yash, you can see the table below:
In the case of every co-operative society, —
| i | where the total income does not exceed Rs. 10,000 | 10 per cent. of the total income; |
| i | where the total income exceeds Rs. 10,000 but does not exceed Rs. 20,000 | Rs. 1,000 plus 20 per cent. of the amount by which the total income exceeds Rs. 10,000; |
| iii | where the total income exceeds Rs. 20,000 |
Rs. 3,000 plus 30 per cent. of the amount by which the total income exceeds Rs. 20,000. |
CAclubindia
