Is TDS applicable to housing society

Is TDS applicable to housing society

Is TDS (tax deducted at source) applicable to housing society?

Yes, provision of TDS is applicable to the housing society. Like the liability to have a PAN, pay advance tax and file its income tax returns, housing societies are also required to deduct tax on certain payments, like salaries to its staff, payments to contractors for carrying out any activity in the society’s buildings, on interest on money borrowed, etc.