Slab rates applicable for associations ?

Shravan (service) (95 Points)

06 September 2013  

Hi

 

We are a residential Apartment owners Association in Bangalore registered under the Karnataka Society Act

 

We have income from FDs in Banks on which income tax is payable

My query is whether we can claim the slab rates applicable for individuals for our association also or we have to pay a flat rate of tax @ 30%

 

Thanks for advising