Taxablity of corpus fund handed over by builder to soceity member
This query is : Resolved
Ajay Shirke
(Querist)
21 June 2024
Dear Sir,
We have received corpus fund from builder & come to know that buider had not discharged any GST Liability on said fund. Will it be taxable in the hand of society?
Futher, corpus fund handed over after completion of Occupation certificate than what would be treatement?
We have received corpus fund from builder & come to know that buider had not discharged any GST Liability on said fund. Will it be taxable in the hand of society?
Futher, corpus fund handed over after completion of Occupation certificate than what would be treatement?
CA R SEETHARAMAN
(Expert)
21 June 2024
Receipt of corpus fund is a capital receipt and hence non taxable.
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