Taxation of clubs

[Guest]

Income of Clubs and associaitons are excluded based on the mutuality concept. But how to claim the exemption in the ITR / Exempt under which section. Return has to be filed for getting the tds refund.

AI Summary

Clubs and associations can claim income tax exemption under section 10(23C) but must file ITR for TDS refund. A query was raised about the taxation of clubs and associations, specifically regarding how to claim income tax exemption based on the mutuality concept in the Income Tax Return (ITR) and under which section this exemption applies. It was clarified in a reply that the exemption for clubs and associations is provided under section 10(23C) of the Income Tax Act. Additionally, it was noted that filing a return is necessary to obtain a tax deducted at source (TDS) refund.