CA Sunny Jain (Chartered Accountant) (65 Points)
16 April 2014Advise.. For a welfare fund which is more beneficial to assesse either to apply PAN and file ITR or go for income tax exemptions ? and Why .? Thanks in Advance...
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 16 April 2014
for a welfare fund
PAN, ITR filing is necessory for a welfare fund.
As you are not eligbile for 80G and 12A becasue this fund has been setted up for the welfare of a particulare community not the public in general.
BUT if you setup funds for general public than you can take 80G and 12A registration as well
than all the things would be compulsory i.e PAN , ITR and 80G ,12A
CA Sunny Jain
(Chartered Accountant)
(65 Points)
Replied 16 April 2014
Thank you so much for reply.
Could you please breif which option is more beneficial to assessee either to go for 80 G r to go for 12A ..?
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 16 April 2014
Both i.e 80 G and 12 A
CAclubindia
