About in co-op society
This query is : Resolved
padam singhvi
(Querist)
23 December 2010
A builder given 84 lac rs to Society and society make fd for it , let me know that when Interest recd on this fd .who will pay tax there on ,untill society says this interest income distibuted to its member.pls reply fast
Hitender Gaur
(Expert)
25 December 2010
Interest on FD will be the income of society and society can utilize that fund (Interest) according to its will. All taxes also will be libility of society in this regard, before distribution of Interest.
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