But as the Association is spending on Construction - TDS has to be deducted - i don't think any wayout.
________________________________ From: Visvanathan Sivaraman <[email protected]> To: [email protected] Sent: Monday, 27 April, 2009 7:26:34 AM Subject: Re: Fwd: TDS by a residence welfare assn. URGENT 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 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 -~----------~----~----~----~------~----~------~--~---
