TAXABILITY OF A REGD SOCIETY UNDER SOCIETY REGISTRATION ACT BUT NOT U/S 12A

[Sanjeev Agrawal]

Dear Experts, With Reference to Provisions of Section 167B which do not apply to company or a society regd under society registration Act, Income of such Charitable Educational Society having annual receipt of more than one crore has been taxed at mmr on its total income, the return was furnished in form ITR 7, in rectification application what relief can be claimed. Thnx and regards.

AI Summary

Charitable Educational Society Faces Maximum Tax Rate; Seeks Relief for Non-Registration Under Section 12A. A registered society under the Society Registration Act, not registered under Section 12A, is facing taxation issues. The society, classified as a Charitable Educational Society with annual receipts exceeding one crore, is taxed at the maximum marginal rate on its total income. The tax return was filed using form ITR 7. The query seeks advice on possible relief through a rectification application. An expert responded that more information is needed to provide a comprehensive answer.