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Rakhi Vasavada
Rakhi Vasavada , Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4418
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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do we pay tax on funds in our social fundswe are living in

Resolved Question:

do we pay tax on funds in our social funds
we are living in overs 60 flats with a social committee
Submitted: 3 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 3 years ago.
Dear Friend,

Hello and welcome. Thank you for using Just Answer.

Do you mean council flats ?

Can you please elaborate little more on your question so that I can better assist you ?

Warm Regards,

Customer: replied 3 years ago.
The flats are
Customer: replied 3 years ago.
The flats are 59 in number and are privately owned. We have a residents committee and a social committee
Expert:  Rakhi Vasavada replied 3 years ago.
Dear Friend,

No.. From what I understand from your question,you won't be paying any tax on the money / funds lying with you.

I am sure this would help.

You may please leave a positive rating if this helps as that is the only way we receive credit for assisting you. Alternatively feel absolutely free to revert with more queries if you have.

Warm Regards
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