Prem Kumar Bajaj (CA Practice ) (23 Points)
22 April 2009A Company is registered under chapter 25 of the companies Act by name YPO( Young Presidents Organisation ). Membership is collected from the members and is used for the objects of the association like arranging meetings etc., Whether service Tax would be levied on the fees collected
M.P Vijayakumar
(Practising Company Secretary)
(30 Points)
Replied 22 April 2009
Section 25 company include one with "any other useful object". Whereas service tax exemption is specific with respect to objects. i.e., to get exemption the obective should be to promote agriculture, horticulture, animal husbandary, objective in the nature of public service and are of a charitable, religious or politcal nature; or the association is associated with press or media.
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