TaxTMI 
TaxTMI 
Principal of Mutuality - Income not liable to tax
X X X X Extracts X X X X
X X X X Extracts X X X X
....rincipal of Mutuality - Income not liable to tax<br> Query (Issue) Started By: - AnilKumar Lunawath Dated:- 25-6-2024 Last Reply Date:- 22-7-2024 Income Tax<br>Got 1 Reply<br>Income Tax<br>Hi all, Ass....
X X X X Extracts X X X X
X X X X Extracts X X X X
....essee is AOP, All the members of AOP are specific business group persons forms the association, This association organise exhibition every year for the benefit of members and charge rental charges for....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... stalls from its members, the members are deducting tds on this rental charges paid to association also. Usually the income arising out of this exhibition activity is exempt due to the concept of mut....
X X X X Extracts X X X X
X X X X Extracts X X X X
....uality but while filling ITR 5 kindly suggest me where to declare this exempted income and to get the TDS refund. Eg. for co operative societies there is deductions under specific section 80P where w....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e can specify the exempted income in ITR, any particular schedule available in this ITR 5 for declaring this exemted income, so that Form 26AS also get matched with income declared and it was further ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....exempted by comcept of Mutuality Kindly advice, Thanks Reply By Padmanathan Kollengode: The Reply: Are members claiming expense of the rental charges paid to AOP in their income Tax returns?<br> Di....
X X X X Extracts X X X X
X X X X Extracts X X X X
....scussion Forum - Knowledge Sharing ....