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8 months ago

Apartments owners Association registered under the charitable societies act (Can An Apartments owners Association registered under Travancore Cochin society act set of the excess expenditure over the members annual contribution against the Interest on the FD that was placed with the corpus fund collected from the members . There was TDS on the interest on the Fd . The expenditure was about Rs 68 laks and the contribution about Rs 58 laks . Hence Rs 10 laks excess expenditure. Can this be set off against the interest of Rs 12 laks received from the FD on the Corpus fund that was paid by the members initially)

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