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Cooperative society taxability

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(Querist)
01 March 2014 whether membership fees received by co operative society is taxable? can FDR int. be set off if cooperative society have loss ( here cooperative society is group housing society and it receive membership fees and do expenses for maintinance of society & for its member therefore here excess of loss over income ). Please give me answer
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CA Hardik Bunha

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CA Hardik Bunha (Expert)
01 March 2014 No, membership fee is not taxable for co-operative society.

yes interest of FD can be set off against loss.
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