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Fund received from contigency fund is Done fixed deposit and interest receive can be shown in contig

This query is : Resolved 

21 September 2021 I'm member of resident welfare association fund received from contigency fund is Done fixed deposit. Can interest receive from FDR are shown in contigency fund. reason


21 September 2021 Yes, such interest can be shown as contingency fund. Earnings of funds should be part of funds.

21 September 2021 what will be it's tax implications.... can tax liability be better managed

22 September 2021 Tax payable on such earning of interest.


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