Corpus

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2012 Will tax be deducted from corpus or is it Tax free?

24 June 2012 As corpus fund is not paid in the nature of income, it forms part of the capital of the trust or the donee, no TDS is required to be deducted.
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TDS is required to be deducted -
1. When the payment being made by you is being received as an income by the recepient.
2. Specific provisions for TDS are prescribed for such payments.
.

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2012 This is in case of redevelopment of housing society. Builder wants to know if to pay to the society and society pays the members or to pay directly to the members and if to deduct TDS on the same.

24 June 2012 Builder is not required to deduct TDS.


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