22 April 2010
Are Residents Welfare Associations required to file tax returns and deduct TDS and apply for PAN No and Service tax and what are its formality
Because welfare Associations come under societies. If the society is not registered under Sec 12 of income Tax Act it will be treated as AOP(Association of Persons) and Taxed accordingly
27 April 2010
KISHORE IS CORRECT FURTHER RWA HAS TO DEDUCT TDS. RWA MAY CLAIM CERTAIN INCOME AS NON TAXABLE ON THE BASIS OF MUTUALITY HOWEVER INCOME FROM INTEREST SHALL BE TAXABLE
CAclubindia
