Audit and filing of accounts with the Registrar of societies

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Swathi (Querist)
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15 March 2010 The owners of an apartment have formed an association and registered the same under the Societies Registration Act.

Should the society/ association file its audit report and accounts with the registrarof societies within 14 days of its AGM?

Also, should the accounts be maintained by the society for the year ending 31st March or 31st December.

CA Gangadhar Mishra

CA Gangadhar Mishra (Expert)
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15 March 2010 There is no need to file B/S, I & E a/c of the society to Registrar of Society. but, every calandar year you have to file the list of Governing body to Registrar of society. If you have registered under 12A of the Income tax Act, then audit is compulsory if gross receipt is > 150000/- fo Ay. 2009-10, then file ITR-7 form otherwise ITR-5.

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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15 March 2010 i'm not agree with Mr. Gangadhar,

As per Sec. 28 of Society Act. require to Every society shall send to the registrar a statement of I&E, B/s and audit report.

audit report require if society having annual transition exceeding one lacs.

the accounts be maintained by the society for the year ending 31st March or 31st December its depends to his bylaws because of date of Annual meeting

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