Could anyone guide us for government requirement and taxes involved in organising a musical event to raise fund.
Early response will be appreciated.
COLOMBOWALA
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Hi please also check the applicablilty of service tax if you are also getting sponsors for the event and they are paying you or bearing cost on your behalf.
As you are going to organize Musical Event, and if the event is going to in public, you may have to obtain PPL license. It is mandatory for all those who play Pre-recorded music in the form of Gramophone Records, Music cassettes or CDs or Radio or TV or Audio-visual etc. for non-private purpose or in public places and/or commercial establishments and/or non-commercial establishments, to take prior licence from Phonographic Performance Limited (PPL).
Completely agree with Mr. Mittal.
Just to add 20% clause will not be applicable for the NGO’s who are working for Education , Health,relief to poor,preservation of environment and monuments. Pl see Section 2(15) of Income tax Act for more detail.
If it is a free event – no taxation issues (except for entertainment tax). However if paid event then two taxes need to be considered – Income Tax and Entertainment Tax.
I believe if you are having S.12A exemption, then you would not be subject to tax, if the funds rec’d through this event are overall less than 20% of total income. Of course one would need to look at the objectives of the organisation. Entertainment tax, being a state subject, one would need to examine the laws of the state where you plan to hold the event. I suggest it will be best to consult your local CA.