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Tranfer fees collected from members in a hsg coperative society

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jagdish ahuja

jagdish ahuja (Querist)
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18 February 2023 in one hsg coperative society - tranfer fees to incoming members was charged at particular rates
which is now limted to max 25000/- per flat
income tax has now issued a notice bringing all transfer fees received as normal income .
pls guide whether the same is taxable or exempt as the society was collecting the same for
repairs -which was also spent on repairs
if any case laws are there -- pls guide and forward
PLS GUIDE
THANKS

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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18 February 2023 Transfer fees are taxable. No case law in favor of non-taxability.

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