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Anil Agrawal (Retired)     10 February 2010

Corpus Fund

 Generally builders give a sizeable corpus to societies going in for redevelopment. If a builder gives Rs.10 crores @ Rs.5 lacs to each member. Is the corpus taxable at the hand of the society? If given to member, is he liable to tax? 

The idea is that out of the interest income, maintenance charges can be paid without any burden on the member.



Learning

 2 Replies

Daksh (Student)     10 February 2010

What an idea Sirji?

Best Regards

Daksh

nautanki (None)     10 February 2010

Bade aaye sirji wale!!!


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