Taxation of Apartment Owners Association Resident

This query is : Resolved

Santosh Anandrao Patil (Querist)
Follow

05 February 2026 Dear Sir,

We are an apartment Owners Association which are having 80 flat all are residence.

below is the Income and Expenditure detail for the F Y 25 26 Tentatively.

Particular Amount
Income from Rent from Hording 7,50,000.00
FD Interest Income 15,000.00
Saving Account Interest 7,000.00
Collection from Member 3,36,000.00
Total Income 11,08,000.00

Expenditure 3,75,000.00

Net Income 7,33,000.00

Company using the hording board pays the rent amount after deducting 10% tds i.e. 75000/-.
Expenses are purely related the owners Association wear and tear.

kindly guide what will be the Taxation effect. whether we can claim the tds deducted of Rs. 75000/- or we have to pay additional tax.

Thanks in Advance

we

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
Follow

06 February 2026 Member collections are exempt under mutuality

Hoarding rent & bank interest are taxable

Expenses are deductible

TDS of ₹75,000 can be fully claimed

Additional tax of ~₹49,000 is payable after TDS adjustment

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now