Section 334: tax on income of a registered non-profit organisation

How the tax is computed

Sub-section (1): the income-tax payable by a registered non-profit organisation on its total income for any tax year is the aggregate of -

• tax at 30% on its specified income for that tax year, and
• tax at the applicable rate on its taxable regular income and any residual income for that tax year, under other provisions of the Act

This Chapter overrides other provisions, with two exceptions

Sub-section (2): the provisions of this Chapter apply irrespective of anything to the contrary in any other provision of the Act, other than Sections 96 to 98.

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