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Housing society taxation

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(Querist)
08 March 2022 If housing society earns interest on FDs with nationalised banks; can expenses like maintenance be deducted from said FD interest income????
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
08 March 2022 For housing societies maintenance charges are deductible from the contribution received from its members, and need not be deducted against any FD interest income.
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Krishna

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Krishna (Querist)
15 March 2022 Sir; if members contribution is less & expenses more, can this loss be claimed as business loss & set off against income from other source ??
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