owner flats association
Membership was given to the members by taking fifty rupees shares in our association.
Took one time non refundable deposit for maintenance.
Can interest be paid to the members on this deposit? If so, will it be allowed in income tax?
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Flat owners association
Replies (3)
Refer the Memorandum. Usually such corpus funds are not paid interest.
I mean, generally interest is not paid over such deposits.
In protest against ADMIN for its discriminatory behavior among different members, I leave the portal permanently. Good Bye.
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