https://www.taxtmi.com/highlights?id=46579 Taxability of interest on FDRs - mutually aided co-operative society to build houses for its members - funds collected from the members are in the nature of capital - capital required for the project are kept in the bank and interest earned can be applied for the purpose of meeting administration cost of the project or can reduce the capital cost of the project - not taxable en-us Fri, 17 May 2019 09:01:03 +0530 Fri, 17 May 2019 09:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=46579 Taxability of interest on FDRs - mutually aided co-operative society to build houses for its members - funds collected from the members are in the nature of capital - capital required for the project are kept in the bank and interest earned can be applied for the purpose of meeting administration cost of the project or can reduce the capital cost of the project - not taxable Highlights Income Tax Fri, 17 May 2019 09:01:03 +0530 https://www.taxtmi.com/highlights?id=46579