Urgent - co-operative society audit report

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Ria (Querist)
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03 April 2012 Respected experts,

1) What does TRF-RM Fund mean in an audit report of a Co-operative housing society ?

2) What does Depreciation mean in an audit report of a Co-operative housing society ?

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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04 April 2012 The question you have raised is not proper in which side of the balance sheet you want to know if it is liability side than it is transfer which stands for TRF- RM can be Repairs and Maintenance or anything which the society managing committee has decided.
Depreciation has the same meaning as provided in Section 32 of Income Tax Act

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