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Principal of Mutuality - Income not liable to tax - Income TaxExtract Hi all, Assessee 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 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 mutuality 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 we 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 exempted by comcept of Mutuality Kindly advice, Thanks
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