Income tax on co op society

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2016 Dear Sir,

I am a member of Co op Hsg society, our society is having rent from hording Rs.962000/- p. a. plus membership of Rs. 250000. Hording company deducting tds @ 10% i.e. Rs. 96200/-.

Our Auditor is Booked tds Receivable as Expenditure.

Please any one guide whether we can claim the refund for this TDS Receivable instead of Booking it as Expenditure.

Thanks in advance

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 February 2016 Can seek refund by filing income tax return.

Amol S Joglekar

Amol S Joglekar (Expert)
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18 February 2016 The income from rent of the hoarding is taxable in the hands of Housing Society. While filing the income tax return, the credit for the TDS of 96200 can be availed.

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