Lift replacement entries in housing society

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ila

ila (Querist)
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10 July 2026 In housing society how capital reserve can be utilised

Aashok Kumar Sharma

Aashok Kumar Sharma

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11 July 2026 A housing society's capital reserve is intended for major capital projects like lift replacement, which must be approved by the General Body. Accounting-wise, the new lift should be capitalized as a fixed asset, with funds drawn from the capital reserve as authorized by the society's bye-laws.

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