Legal Compliance for Cooperative Housing Society

Legal Compliance Framework – Cooperative Housing Society

Many a times we have seen that Managing committee fails in legal compliance not because of time but just due to less awareness on the various compliance required by law. The recent changes (yet to receive consent from Governor of Maharashtra) in Maharashtra Cooperative Society Act, proposed a Fine of 25000/- (Rupees Twenty-Five Thousand) in Read more about Legal Compliance Framework – Cooperative Housing Society[…]

GST-Impact on Housing Society

Impact of GST on Housing Societies

Multiple taxes, even across state borders, has always been known to make the trade in India expensive and complicated. GST (Goods and Services Tax) is a fiscal reform being made to introduce a single taxation system across the entire nation. Manufacture, distribution, and provision of goods and services, fields that pay indirect taxes, will be Read more about Impact of GST on Housing Societies[…]

Income Tax and Housing Society Cooperatives

Nowadays more and more housing cooperative societies are receiving notices from the government, ever wondered why? Housing cooperatives are not exempted from income tax, but to avoid tax liability housing cooperative avoid paying tax. A housing cooperative is either fully or partially taxable are not an exception to this either. Income Tax department does not Read more about Income Tax and Housing Society Cooperatives[…]