dear all,
what is the income tax slab rate for a flat owners association which is registered as society.
Is there any change of slab if registered and unregistered?
The society has interest income from fixed deposits for which it is liable to pay income tax. pls advise as the return needs tobe filed before 31st
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AOP flat owners association tax rate
Replies (1)
Interest earned on fixed deposits is taxable income for your association. The tax rate will depend on whether your association is assessed as an AOP, a BOI, or a registered society, with unregistered associations often facing higher tax burdens. You should consult a professional to confirm your specific tax status and ensure your annual filings are accurate.
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