Differences between society & apartment as far as an audit of account & date of AGM is concerned
Que. What are key differences between society & apartment as far as an audit
of account & date of AGM is concerned
A society audit has to be completed on or before 31st of July( within four
months of the closure of the financial year) and has to be kept before the General
Body meeting, which has to be held on or before 30th September.
In case of an Apartment Condominium the Association has to publish an Audited
Annual Financial Statement on or before 31st July and the copy of the same has to
be submitted to the Registrar before 15th August . Please note that the Annual
general meeting and other matters in case of an Association of Apartment should
be as per the Byelaws of the said Association.
Full audit report for 28 u/s 81(2),
Que. Is the full Audit Report inclusive of form 28 u/s 81(2), to be circulated to members together with Balance sheet by the sec/auditor? We have received only Balance Sheet with due notice of AGM & secretary refuses to submit the full Audit Report ...
Income tax return for society
Que. Does the Association of Apartments also need to file any income tax returns? Association of Apartments has to audit the accounts, obtain PAN no and file income tax returns.
Where we can get guidance for framing bye-laws for buildings registered under apartments act?
Que.Can you please tell where we can get guidance for framing bye-laws for buildings registered under apartments act? In case of an Apartment Condominium the byelaws are attached to the Deed of Declaration itself.
What is the process to change a condominium to society ?
Que. What is the process to change a condominium to society ? Apartment Condominium can be changed to a Cooperative Housing Society by the cancellation of Deed of Declaration of Apartment Condominium. However, this is possible only when all the ...
Co-operative bank and nationalized bank account
Is it mandatory to have an account in co-operative bank? We initially had that when the society was formed and closed it. Now we are operating from a nationalised bank? As the query is pertaining to investments in bank, considering the provisions ...