Question ID :
40508
Tax audit resident welfare association
Whether tax audit is applicable for resident welfare association registered under society registration act. The income is exempt under mutuality. However the collection from members exceeds Rs 1 crore
Posted by
rangarajan r
on
Dec 19, 2019
Filed Under
DIRECT TAXES
Generally RWAs are not engaged in business. Hence tax audit is not applicable to RWA even if collection from member for maintenance charges or other charges exceeds Rs. 1 Crore.
Posted by
CA. chunauti dholakia on
Dec 20, 2019
Answer ID :
80387
not required
Posted by
SIVADAS CHETTOOR on
Jan 29, 2020