Housing Society-ITR5

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This discussion addresses how to report a Rs 20,000 deficit for a housing society's Income Tax Return (ITR-5). The user is unsure where to show this deficit after recording maintenance charges and expenses in the P&L section. The advice given is that under the principle of mutuality, member-based maintenance deficits typically cannot be treated as business losses unless linked to commercial non-member income.

Ram chandran

Ram chandran (Querist)
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24 July 2026 I am preparing ITR for Housing society, i have the following question..
The society Have only Maintenance charges receipt and having deficit of 20k. i have shown the receipt and expenses in p&l section in ITR5.. for the deficit of 20k, where can i show this in ITR?. .. i am using genius software

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)
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24 July 2026 Under the Principle of Mutuality, member-based maintenance deficits generally cannot be offset or treated as business losses unless tied to commercial non-member income. Apportion expenses between mutual and non-mutual activities, and ensure proper treatment within the ITR-5 utility.

Ram chandran

Ram chandran (Querist)
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24 July 2026 thanks for the reply, member based maintenance have deficits and i want to know whether i can carryforward as loss?. . or where i can i show this in ITR5

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