A is an association governed by the provisions of sec. 44 A of the Income-tax Act. The
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A is an association governed by the provisions of sec. 44 A of the Income-tax Act. The subscription receipts for the year ended 31st March, 2023 were ₹ 60,000. The expenditure in the normal course of its activities was ₹85,000. Its other income taxable under the Act works out to ₹75,000. On these facts, you are consulted as to:
a. How A's taxable income will be determined for assessment year 2023-24.
b. In case the association did not have the other taxable income, will there be any difference in the computation of its income?
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