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Club membership deposit, Income Tax

Issue Id: - 109113
Dated: 3-9-2015
By:- Mukund Honkan

Club membership deposit

Contents

If certain club takes deposit repayable after certain no of years & do not charge any fees, what will be direct & indirect tax implications

Posts / Replies

Showing Replies 1 to 1 of 1 Records

Page: 1

1 Dated: 1-12-2015
By:- MARIAPPAN GOVINDARAJAN

There is no effect. Deposit will not be considered as income or revenue. Therefore refund of deposit is having no implication in direct and indirect taxes.

Page: 1

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