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About residentail society

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(Querist)
28 July 2017 Sir, I Have one query about Residential Society.... If such residential society is registered as Association, than such excess collection of maintenance is taxable or not ? If taxable than under which slab?......
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Amol S Joglekar

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Amol S Joglekar (Expert)
28 July 2017 excess collection is NOT taxable. Interest on fixed deposits if any etc. is taxable
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AMITA.P.GODHANI

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AMITA.P.GODHANI (Querist)
31 July 2017 Thanks.... but it require to file ITR ?
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Amol S Joglekar

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Amol S Joglekar (Expert)
31 July 2017 yes, return of income should be filed.
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AMITA.P.GODHANI

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AMITA.P.GODHANI (Querist)
01 August 2017 Thanks......for your suggestions
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AMITA.P.GODHANI

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AMITA.P.GODHANI (Querist)
01 August 2017 Thanks......for your suggestions
But in ITR which income show ?
If society haven't any FD or Interest on FD....?
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Amol S Joglekar

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Amol S Joglekar (Expert)
01 August 2017 if there is NO any income for the Society, then ITR is NOT required to be filed.
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