Housing Cooperatives: In Light of Recent Judgements on Transfer Fees and Tax Benefits

NHCF Bulletin, 2004

8 Pages Posted: 7 Jan 2007  

Vrajlal K. Sapovadia

Shanti Business School (SBS)

Abstract

The Cooperative Society enjoys special status for the purpose of taxation in India, and is due to mutuality concept and as it is considered priority sector in the eyes of Government, get edge over other Assessee in matter of taxation. In addition, housing is also enjoying priority in government planning and hence additional tax benefits are offered in constructing, acquiring and transferring of housing property, borrowing fund, payment of interest on borrowed fund etc. Cooperatives are considered mutual concern and hence unless tax provisions are specially made to tax a transaction, there is no taxable income between member & cooperative during transaction as mentioned in its charter. The paper discusses various issues and apex court interpretations.

Keywords: Housing Cooperative, Taxation

JEL Classification: E6

Suggested Citation

Sapovadia, Vrajlal K., Housing Cooperatives: In Light of Recent Judgements on Transfer Fees and Tax Benefits. NHCF Bulletin, 2004. Available at SSRN: https://ssrn.com/abstract=955293

Vrajlal K. Sapovadia (Contact Author)

Shanti Business School (SBS) ( email )

Opp. Vral Gardens, Off S. P. Ring Road
Shela
Ahmedabad, Gujarat 380058
India

HOME PAGE: http://www.shantibschool.edu.in

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