Dear Experts,
Whethere separate bank account is required to maintain for Reserve Fund by a Housing Co operative Society..
Menu
Accounting for Reserve Fund
Replies (2)
All busines maintain bank account.
co operative housing society can opt for a seperate bank account in order to have a seperate control.
co operative housing society can opt for a seperate bank account in order to have a seperate control.
No seperate bank account is required by CHS
This is in Maharashtra under MCS Act. It is under State Acts.
However such reserve funds are usually invested into bank fixed deposits FDR and these FDs are mandatorily to be earmarked against each reserve fund.
(Such as Sinking Fund, Repair Fund, Builder Corpus Fund, General Reserve etc)
This is in Maharashtra under MCS Act. It is under State Acts.
However such reserve funds are usually invested into bank fixed deposits FDR and these FDs are mandatorily to be earmarked against each reserve fund.
(Such as Sinking Fund, Repair Fund, Builder Corpus Fund, General Reserve etc)
Recent Threads
- Query of Goodwill
- Remuneration to Partners
- Request For Dhirajlal Rambhia
- Tds deduction queery
- Check ITR1 on income tax Form ITR1 Instead of 1 ho
- Form 121 requirement
- Interest on reversal of ITC when ITC balance avail
- Is MirrorFly an Instant Messaging Software?
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
Related Threads
CAclubindia
