Flat owners’ association

You need to register your society as association of persons and file income tax return.

You dont need to register for TAN or audit.

If you need any further assistance feel free to contact me.

https://taxguru.in/income-tax/taxability-resident-welfare-associations-income-tax-act.html

You can read this.

If you dont take registration you may get a notice asking for explanation of everything.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you.

Hi,

1 Such association's are known as RWA, the purpose is mutual benefit of the members. Obtaining PAN is sufficient. 

2 Yes, filing of ITR is applicable to you. You need to prepare Receipts & Payments account and Sources and application of funds account. The tax will be paid on the income of RWA i.e. interest on FD.

3 Yes if tax audit is applicable

4 It depends on nature of each payment.

5 Yes if association gets involved in the business and turnover exceeds Rs.2 cr.

6 Litigation

7 GST will be applicable if the maintenance charges per member per month exceeds Rs.7,500.

Thanks

- Same what you have written. Please take phone consultation.

Sir your earlier question was related to Housins society and now you are abruptly asking for export please explain the background of question.

Answer to your first question.

1. Yes, you have to take the registration.

2. Filing ITR is applicable to claim refund on the TDS of interest if any.

3. Depends on the transactions. 

4. Not applicable. 

5. Not required

6. Department is going to raise questions on your non-adherance.

Answer to your second question.

All the documents that you have mentioned is the documentation required.

Thank you

Dear Sir,

Please consult with FEMA expert for documentation in relation to Export of Goods to Nepal and Bhutan.

Hello,

You need to register as AOP under Income Tax. 

Yes, you need file return. Pay tax on income earned by the association.

No need to obtain TAN. No need for tax audit.

I hope this answer satisfies your requirement.

Regards,

CA Hunny Badlani

Yes you are liable to be registered and file income tax return TDS and GST return depends on turnover. 

If you want I can help you on that. 

Hi,

-You will have to take the registration for association.

- Yes, filing of income tax return is applicable to you.

-It depends on the turnover. If tax audit is applicable, then you need to take the TAN.

-TDS rate is depend on each transaction and nature of payment.

-.Under section 44AB, a compulsory tax audit is required to be completed by a Chartered Accountant if a business has total sales turnover or over Rs.1 crore/ Rs 2 Crore for opting PTS.

.You may get the notice for non-compliances.