Taxation of Apartment Owners Association Resident
This query is : Resolved
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
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
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
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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