Question ID :
44671
Taxability of yearly membership fee received in cash
In case of AOP, yearly maintenance is received from members in cash as and when required. These cash is deposited into AOP bank A/c. and cheques are issued for expenditure. Whether cash received is revenue receipt of AOP
Posted by
ATUL MUKUNDLAL TOSHNIWAL
on
Jun 25, 2024
Filed Under
DIRECT TAXES
Fees received by AOP from members is exempt based on principle of mutuality.
Posted by
CA. chunauti dholakia on
Jun 28, 2024