*Dear Sandeep, thanks for the prompt reply. How ever a residents association does not carry out any business and the members contribution is only to share expenses of common utility expenses [both present and future]. Hence they need not file any Income Tax Returns.
Under these circumstances is there any exemptions for TDS? Because for getting TAN one has to obtain PAN. sivaraman* On Sun, Apr 26, 2009 at 12:30 PM, Sandeep Anand <[email protected]>wrote: > > > Yes - TDS is applicable as society is an AOP . > > --- On Sun, 26/4/09, Visvanathan Sivaraman <[email protected]> wrote: > > > From: Visvanathan Sivaraman <[email protected]> > > Subject: Fwd: TDS by a residence welfare assn. URGENT > > To: [email protected] > > Date: Sunday, 26 April, 2009, 6:53 AM > > > > Dear all, > > > > A flat owners association has to be regd under societies > > regn act when there are more than 20 members or the > > contribution is more than Rs.20,000.00 > > > > > > How ever as there are no income and the expenses on common > > area maintenance and utilities like water, electricity, > > security etc are met by the contribution from the members on > > specific proportion. Hence the provisions of Income tax > > return filing and PAN does not apply. > > > > > > Now the association wants to undertake a major maintenance > > work of painting etc which will be met out of accumulated > > contribution and additional contribution. Does the assn have > > to deduct TDS u/s 194C? Is there any exemption since there > > are no business activity involved. > > > > > > > > > > sivaraman > > > > > > > > > > > > > > > > > > > > > > Now surf faster and smarter ! Check out the new Firefox 3 - Yahoo! > Edition http://downloads.yahoo.com/in/firefox/?fr=om_email_firefox > > > > --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Skorydov MyTaxAssistant Member Group" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/SkorydovMyTaxAssistant?hl=en -~----------~----~----~----~------~----~------~--~---
