Society related taxation and individual member taxation
This query is : Resolved
RAMESHKUMAR
(Querist)
12 March 2021
Principal member of the society is managing a private society, he owned and running the society in his own land and building, Here no agreement was not written and
The rent provision not yet made in account s of society.
And individual member cannot charge rent of his own income tax return,
Kindly guide me this compliance.
The rent provision not yet made in account s of society.
And individual member cannot charge rent of his own income tax return,
Kindly guide me this compliance.
Dhirajlal Rambhia
(Expert)
24 September 2021
Register an AOP, apply for PAN. Make rental agreement for the place, all the members may contribute the general maintenance. Keep books of accounts along with register of minutes of meetings held.
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