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Excerpt: One of my clients is a charitable society having more than twelve various activities like schools, charitable clinics, naturopathy centres, creches, old age homes, pension for widows, library, Masala Centre where various spices are prepared by poor ladies. Spices prepared by these ladies are sold over the counter which results in some income to the society. Besides sometimes a hall in building of the society is also given on rent to some commercial organisation for sale purposes.Pl confirm whether in light of the latest amendments in the Income tax Act, the activities like sale of spices and rent receipt will…
