Question ID :
Income Tax Return of Housing Society or Resident Welfare Association
Surplus of Maintenance charges received by Housing Society is exempt on the basis of Principle of Mutuality.
Under which head or column will that exempted surplus income be recorded ?
Answer ID :
Gaurav Kumar Baranwal
Jul 28, 2023
'Fully exempted income' column since income of a mutual concern is not assessable to tax.
B.CHACKRAPANI WARRIER on
Jul 29, 2023