Hi Dears,
Hope you are doing! Recently, I have come to scenario about housing society. They have fixed a maintenance agency with a gst number and other compliance like esi, pf, etc registration have for their employees. But, while doing monthly payment to the maintenance agency, society committee has made check payment in favour of the agency's CEO name not in the Agency's name as per maintenance agreement. What will lead this to annual audit of the Society as per Housing Society act? Who will be held responsible for this and what would be the consequences? How the residents can safe their fund to the society? Looking for advice from you. Thanks in advance.
CAclubindia
