08 January 2013
A New year function was organized by a RWA which was financed by receiving contribution from the residents. The contributions received were deposited in RWA account and similarly expenditure incurred was paid from RWA accounts. I want to know whether the contributions received from residents are subject to SERVICE TAX
08 January 2013
Contributions from RWAs upto Rs 5000 p.m are exempt as per point no 28(c) of mega exemption notification No 225/2012-ST dated 20-06-2012... Rest taxable as RWAs and residents are deemed to be seperate entities...
CAclubindia
