It is exempt in case of Co-Operative Societies the amount is exempt.
Now to understand in case of association of apartments, we need to understand your modes-operandi first.
1. How do you raise the bills ? In the name of Co-Op Society or Association of Appartments.
2. Is the Association registered ?
3. Do you have a PAN.
4. Is there a Common Bank
to name a few, unless the whole cycle is clear it is difficult to comment on the same.
Trust this clarifies your query.
Please feel free to call/ get back in case of any further clarifications.
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP