Aop-not getting refunds

This query is : Resolved

Srinivas Kumar (Querist)
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23 November 2016 We are an apartment owners' welfare association. Our income is 1)members' monthly contribution to the association for maintenance activities 2)members'monthly contribution to the sinking fund for contingency expenses 3)Interest earned on our Savings account and FDs. 4)Car parking fees charged to members having more than one 4 wheeler. We do not have any other income viz. renting out community hall for functions etc.At the end of the year, we are left with an additional amount as our contribution is slightly more than what we actually spend. Our Excess of Income over Expenditure is much less than 2.5 lacs, which is the limit for NO tax liability. Even the interest income is around 85-90000 per year. Our bank is deducting 10% of our FD interest towards Income tax. When we file our tax returns to claim this TDS amount as refund, we get notice from IT dept to deposit additional tax. Why we are not getting our refund when our so called income is much below the limit of 2.50 lacs?? we are filing our returns in ITR-V.