Receipts in the case of a Trade Union
This query is : Resolved
18 June 2020
A trade union has been formed and in the bye-laws it has been mentioned that a member has to pay Rs.365/-
towards one year membership and Rs.100/- towards one time admission fees. Total Rs.465/-
Now a lot of members are likely to join the trade union. But they feel that the membership fee is slightly higher.
So they have requested the Trade Union to collect only Rs.250/- towards both membership & admission fees.
The trade union has already collected Rs.465/- from 100 members. If they decide to reduce the membership & admission fees to Rs.250/- whether they have to return back the difference of Rs.215/- to the existing members
or is there any way to account the difference money collected in the form of donation etc. Whether the bye-law
has to be amended.
towards one year membership and Rs.100/- towards one time admission fees. Total Rs.465/-
Now a lot of members are likely to join the trade union. But they feel that the membership fee is slightly higher.
So they have requested the Trade Union to collect only Rs.250/- towards both membership & admission fees.
The trade union has already collected Rs.465/- from 100 members. If they decide to reduce the membership & admission fees to Rs.250/- whether they have to return back the difference of Rs.215/- to the existing members
or is there any way to account the difference money collected in the form of donation etc. Whether the bye-law
has to be amended.
CA R SEETHARAMAN
(Expert)
19 June 2020
Take it as donation or keep it under advance and adjust in next year membership fee.
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