Association's Service Fees Not "Trade" or "Business," Qualifies for Tax Exemption u/s 11 of Income Tax Act.

Association's Service Fees Not "Trade" or "Business," Qualifies for Tax Exemption u/s 11 of Income Tax Act. https://www.taxtmi.com/highlights?id=54897 Exemption u/s 11 - the activities of the assessee's association cannot be termed either "trade" , "commerce" or "business" simply because the assessee association is receiving some charges or fees for rendering services on non- commercial principles to State Road Transport Undertakings and other concern members for a fee or charges. - AT en-us Thu, 24 Sep 2020 11:46:20 +0530 Thu, 24 Sep 2020 11:46:20 +0530 TaxTMI RSS Generator Association's Service Fees Not "Trade" or "Business," Qualifies for Tax Exemption u/s 11 of Income Tax Act. https://www.taxtmi.com/highlights?id=54897 Exemption u/s 11 - the activities of the assessee's association cannot be termed either "trade" , "commerce" or "business" simply because the assessee association is receiving some charges or fees for rendering services on non- commercial principles to State Road Transport Undertakings and other concern members for a fee or charges. - AT Highlights Income Tax Thu, 24 Sep 2020 11:46:20 +0530 https://www.taxtmi.com/highlights?id=54897