Income Tax on Association

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....ncome Tax on Association<br> Query (Issue) Started By: - MOHAMED YACOOB SHARIFF Dated:- 24-2-2013 Last Reply Date:- 21-3-2015 Income Tax<br>Got 1 Reply<br>Income Tax<br>One LIC Agents association is c....

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....ollecting the subscription for the welfare of agents, and it has bank deposits in bank, for which the bank is deducing the TDS, the excess of income over receipts shows Rs.55000/- (including the inter....

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....est from bank of Rs.28500) Now what is the taxable income?, it has PAN, Reply By Rama Krishana: The Reply: If the principal of mutuality applied in your case, the taxable income is &#8377; 28,500/....

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....- and if not the taxable income may be &#8377; 55,000/- or otherwise as per the computation of income.<br> Discussion Forum - Knowledge Sharing ....