Income tax return of society

Yash Sharma (CA - FINAL) (138 Points)

13 July 2012

WHT 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 .

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Pawan Mittal (CA Final) (702 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.