Please Help: Charitable society
Posted Date : 14-Jul-2011 , 05:50:44 pm | Posted By CA Rajnish
Can a charitable society take public donation for the purpose of social welfare activities and if it is registered u/s 12 A.The point is weather public donation is taxable in this case?
Category : Income Tax | Answers : 1 | Comments : 0 | Hits : 451
Answers
Answer By: CA. Sachin Data
The issue whether the public donation is taxable or not depends upon the objective of the Charitable Society and its working. There are many instances where the objective is for public welfare (for eg. distribution of the copies of some religious book) but actually the trust/ instituition is reaping out profit from such business. So...in that case the said amount comes under the net of income tax.
The above saying is as per my opinion.
The above saying is as per my opinion.
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