Taxation of resident welfare association
This query is : Resolved
14 November 2013
As per concept of mutuality income of rwa from members is not taxable. but other income like interest etc are taxable
my query is
1. which form to be filled for ITR
2. whether detail of receipt from members & exp etc to be filled in p/l & Balance sheet column
3. how to reflect any surplus & shortfall in revenu
4. tax audit provision will apply or not.
my query is
1. which form to be filled for ITR
2. whether detail of receipt from members & exp etc to be filled in p/l & Balance sheet column
3. how to reflect any surplus & shortfall in revenu
4. tax audit provision will apply or not.
14 November 2013
1. ITR-5
2. YES.
3. ?
4. WILL NOT APPLY.
2. YES.
3. ?
4. WILL NOT APPLY.
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