What wil be the treatment of non-ocupancy charges collected from member and non-member in Co-Op. Soceity hands ?
What wil be the treatment of non-ocupancy charges collected from member and non-member in Co-Op. Soceity hands ?
Non- occupancy charges collected from members is tax-free in the hands of the society on grounds of concept of mutuality.
from non-members its taxable
Agree with rachit provided the same is not charged more than 10% of maintenance dues............ Cheers...........
CAclubindia
