Question ID :
44519
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 ?
Posted by
Gaurav Kumar Baranwal
on
Jul 28, 2023
Filed Under
DIRECT TAXES
'Fully exempted income' column since income of a mutual concern is not assessable to tax.
Posted by
B.CHACKRAPANI WARRIER on
Jul 29, 2023