Please Help: Charitable society
Posted Date : 14-Jul-2011 , 05:50:44 pm | Posted By: CA Rajnish
Category :
Income Tax | Answers :
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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? |
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Answers:
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 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.
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