Taxation of apartment - association of persons

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 April 2017 Sir,
Only source of Income for our apartment is Interest from FD. That too doesn't cross maximum amount not chargeable to tax. But TDS got deducted. I'm a College Professor I will submit the return for my apartment on my own.
1. My question is whether books need to be audited by CA? Is it a must?
2. Are we supposed to deduct TDS for payment to Lift Service Personnel for AMC?


07 April 2017 1 No need of audit for filling return if gross receipts not exceed 1 crore.
2 TDS not applicable if your gross receipts not exceed 1 crore.

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 April 2017 Thanks for the reply Sir.


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