Tax liability on flat owners association (aop)

This query is : Resolved

Sandeep M J (Querist)
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09 February 2013 Dear All,

I got an Assignment of ITR for Flat Owners Welfare Association. Details below

A Y - 2012-13,
Subscription- 42,00,000/-
Donations from External Agencies & Vendors
22,40,000/-
Interest on FD from non Co-op Banks - Rs 12,34,000/-
Rental Income 300000/-

Is all the above income are exempted or only subscription is exempted?
If others are taxable, will it taxed at normal slab of individual or those applicable for co- op societes? (10000- 20000 & above 20000 @ 10%,20% &30% respectively)

Please help me with a clear answer.

Sandeep

CA.Sourabh Sethia

CA.Sourabh Sethia (Expert)
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11 February 2013 pls clarify the constitution of the Association
what is the nature of the organisation ??

Sandeep M J

Sandeep M J (Querist)
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15 February 2013 This is an Association of persons(AOP) just like all residents welfare associations(RWA)

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