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TMI BlogITR 5 for SocietyX X X X Extracts X X X X X X X X Extracts X X X X ..... The society is engaged as hand holding agency by the State Organic Mission whose main mission is to develop certified organic products and to link farmers with consumers. The society is in receipt of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earmarked funds and disburse/incur the funds accordingly with some balance remaining at the end of FY but does not produce profit/surplus nor loss/deficit as it does not produce any revenue apart from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earmarked funds received. Funds are transferred to Income Expenditures a/c from Earmarked funds equal to the expenditures incurred as per the schemes and balance lying as fund balance in the balanc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e sheet. While filing ITR 5 should the society fill up all the details of Balance Sheet and Profit Loss or should the section 'No Account Case' suffice? Also, should the depreciation sheet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be filled up for the assets procured under the funds as this has the effect of giving loss. Kindly Advice, thanking you in advance - ITR 5 for Society - Query Started By: - Jewel Fanai Dated:- 30- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10-2020 Income Tax - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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