taxation of trade unions

jin (Querist) 09 June 2008 This query is : Resolved
hi my question is that whether the trade unions are exempted under income tax.wht are the incomes which are taxable and wht are the incomes which are not taxable.whether donations accepted by trade unions from diffrent business orgnaisations to use for perticuler funds are exempted .

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Guest (Expert) 09 June 2008
Trade unions are usually non profit orgainsation where the contributors and participators are common. Therefore the income or surplus if any will not be brought to tax. However, they need to maintain accounts and get them audited.

Donations collected with with specific condition that the donation should form part of the Corppus of the Union is exempt.

Rajesh Kumar (Expert) 10 June 2008
Trade Unions are specifically exempt from Service Tax

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