Taxation of Apartment Owners Association Resident

This query is : Resolved

Santosh Anandrao Patil (Querist)
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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

Aashok Kumar Sharma (Expert)
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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

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