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Discussion > Income Tax > interest on fixed deposit of an apartment society whether ta

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Neeta Agarwal
CA
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Posted On 17 August 2009 at 15:32

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Can anyone pls tell me if interset on fixed deposit by an apartment society out of it's corpus from members taxable?It's urgent. Ref. Sec44A

Chaitanya G Kukalyekar
PCC Article, Waiting for results
[ Scorecard : 117]

Posted On 17 August 2009 at 16:08

Yes, It is taxable... Although the surplus earned by a society isn't taxable, i guess, the interest on fixed deposit is taxable under Income from other Sources...

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