Itr for apartemnt owners' association
This query is : Resolved
24 July 2014
Dear Expert,
apartment owner association has been registered with income tax website as AOP and return filed showing bank interest income and other income in itr V. indivudual slab rate applied and refund claimed. I did not give income & expenditure and balance sheet details in itr V. If it is to be shown then where and how the surplus in income and expenditure account due to excess collection of maintenance chages to be shown....? This is not income but excess collection of maintenance charges.
apartment owner association has been registered with income tax website as AOP and return filed showing bank interest income and other income in itr V. indivudual slab rate applied and refund claimed. I did not give income & expenditure and balance sheet details in itr V. If it is to be shown then where and how the surplus in income and expenditure account due to excess collection of maintenance chages to be shown....? This is not income but excess collection of maintenance charges.
24 July 2014
u need to file itr 1 only in this case.............
24 July 2014
itr 1 is for salaried class. please reply after understanding my query clearly
24 July 2014
pls read my suggestion carefully u need to file itr-1 which is also applicable to aop u can read the instruction to file itr1 and u dont need to show all wat u asked.
24 July 2014
ITR-5 is the appropriate form. Excess collection over maintenance charges shall be shown in schedule E1 ,clause 6 of the said form with a narration 'surplus from mutual activity not forming part of total income'.
Nikhil Kaushik
(Expert)
26 July 2014
dear Sathyam please follow as warrier sir suggested.
Deat Tushar, kindly refer to the instructions for ITR1 https://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/PDF/AY2014-2015/Instruction_ITR_1_Sahaj.pdf
The title of the Form itself is "Individual Income-tax Return"
Further, refer Rule 12 (1)(a) AND 12(1)(e)
Deat Tushar, kindly refer to the instructions for ITR1 https://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/PDF/AY2014-2015/Instruction_ITR_1_Sahaj.pdf
The title of the Form itself is "Individual Income-tax Return"
Further, refer Rule 12 (1)(a) AND 12(1)(e)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- Oct 2025 Invoices
- Capitalgain tax purposes for valuation report compulsory
- Under marginal scheme
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- GST on Renting godown to KFCSC for Storage of Raagi
- Import of Software Service.
- TAX AUDIT ON PROFESSIONAL INCOME
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
