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Mutuality concerns itr

amit (Student CA IPC / IPCC) (26 Points)

13 September 2019

procedure to file itr in case of mutuality concerns.

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8 Replies

Kapadia Pravin (17249 Points)
Replied 13 September 2019

Please be more specific about query

amit (Student CA IPC / IPCC) (26 Points)
Replied 13 September 2019

As in which form to select and how to show the related details i.e. income and expediture in itr form and if any surplus is there then how to exempt it from tax.. since no such exemption is mentioned under section 10.

Kapadia Pravin (17249 Points)
Replied 13 September 2019

What type / category of assessee entity is ?

amit (Student CA IPC / IPCC) (26 Points)
Replied 13 September 2019

Rwa of housing society

Suresh Thiyagarajan (Student) (3986 Points)
Replied 14 September 2019

1. For the purpose of the income tax act, it will be treated as Association of Person (AOP) and accordingly charged to tax.
Please refer the section and rules for detailed calculation.