Apartment or RWA (Resident Welfare Association) accounts may look simple, but Income Tax compliance isn’t. Whether your association earns bank interest, rents out common areas, or collects non-mutual charges — filing your ITR is mandatory if taxable income exceeds the basic exemption limit.
At Tax247, we specialize in Apartment ITR Filing, ensuring that your accounts are structured correctly, income is reported properly, and notices are avoided.
- Services We Offer
Apartment & Society Income Tax Filing
When Is ITR Filing Required for an Apartment Association?
If interest income from FD/savings exceeds ₹2.5 lakhs (basic exemption limit)
If there is income from commercial activities (like renting rooftops to mobile towers, shop rentals, etc.)
If TDS is deducted on income (e.g. Form 26AS reflects interest or rent income)
To claim TDS refunds deducted by banks
For compliance and transparency during audits, bank loans, or grant applications
What’s Included in Our Service:
1. Accounting Finalization
Review of receipts, payments, and ledgers
Categorization of mutual and non-mutual income
2. Computation of Taxable Income
Only non-mutual income is taxable
Bank interest, rental income, etc. evaluated accordingly
3. ITR Filing (Form ITR-5)
Filed under AOP status
Reviewed and validated by senior partner
4. TDS Reconciliation (Form 26AS)
Verify credits and claim eligible refunds
5. Consultation on Tax Savings
Recommendations for restructuring FD holdings, capital account management, etc.
6. Year-Round Advisory (Optional Add-On)
Support for GST applicability, PAN/TAN management, vendor TDS, and compliance queries
Why Apartment Committees Choose Tax247:
Specialized in RWA filings across India
Experience with 100+ apartment associations
Fully compliant filings with documentation
Timely reminders, data protection, and transparency
Coordination with MC members or treasurers
