Cooperative soceity--12a--reg
P.Parthasarathi
(Querist) 07 October 2012
This query is : Open
Sirs,
My client is a co-operative society registered under the societies registration Act, 1860 in 2005. It is a co-op society created on the specific direction of the provincial Government to function inside the campuses of all the three Govt. Medical Colleges of the State and its function is to maintain the hospital, collect nominal fee for conducting pathological and radiological tests etc. and to use the revenue so collected for the upkeep of the hospital and improve the infrastructure. In other words it s object is to provide " medical services" to some people with nominal charges and to the BPL holders free of charges. It has not so far applied for Registration u/s 12A and the jurisdictional Income-tax Authority has now issued a notice u/s 148 for bringing to tax its income over expenses for all the 4 past years. Now the question is :Can the society apply for REg. u/s 12A to the Commissioner of Income-tax seeking the same from retrospective effect? Since notices u/s 148 have already been received the society, whose status under the IT Act would be AOP ( Co-op society ) should it pay the tax u/s 140A and then file the return even though it immediately applies for registration u/s 12A? It surely comes under the category of Non-Profit making institution that serves the public by providing Medical Relief as enunciated in the case of CIT v. P.Kishna Warrier(1972) 84 ITR 119 (Ker) and also falls within the scope of sec. 2(15) as amended by the F.Act, 2008 w.e.f asst. year 2009-10. Kindly suggest the chronology of actions to be taken by the client society.
