25 November 2015
We, wish to know a qualified chartered accountant is needed to audit the accounts of Apartment owners Association , which is registered under the provisions of the Travancore - Cochin Literary Scientific and Charitable Societies Registration Act, 1955.Our income is below Rs20 lakhs and most amount is spent for the maintenance,wages etc.The balance amount is below Rs3 lakhs in year.
25 November 2015
No need to audit by a practicing Chartered Accountant, as per the referred law ,unless otherwise provided in the bye-law of the association.
CAclubindia
