How to file itr for resident welfare association

2406 views 2 replies
Dear Sir, There is no provision for sharing of income of Resident Welfare Association (RWA) to its members. Members contribute annual subscriptttion and after meeting all maitenance charges, other expenditure, rest amount is being kept in the Bank in the from of Savings / FD account. The income of RWA is not being distributed among members and is kept in bank account for future contingencies. We want to file ITR mainly for claiming refund of TDS on FD interest (by Bank). As income of RWA is less than the basic exemption applicable to individuals (Rs.2.50 lacs), can we get out TDS back by filing ITR5. Please clarify. Thanx and regards
Replies (2)
if Income received by RWA from Non Member exceeds the taxable limit then only RWA is liable to file the Income Tax Return in Form ITR-5. Most of the RWAs got TDS deducted on interest income from banks thus they should file ITR to claim refund of their TDS dues. Tax rates applicable to AOP are same as that of applicable to Individuals.

Is there any further details to be filled in ITR 5 so that CPC computes tax at normal rates

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details