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SR   30 June 2022

Apartment registration renewal

Our Apartment houses 70 flats and build in the year 2000 (Location Chennai, Tamilnadu). Association was formed and registered in 2002. Afterwards, no renewal done and income tax returns not filed till date. But our AGMs are regular and yearly Income & expenditures are properly audited by the professional auditor. Total fund availability is only 3-4 lakhs.

From 2016 onwards no bank transaction due to non-availability of KYC. Recently, Office bearers have registered the Association in new name and trying to open new bank account with PAN card.

Now the queries are: (1) Is it legally valid to register in a new name? and continue dropping the old registration.Is there any liability on the association by the Registrar of Society?.  If yes how it is calculated

(2) What will happen when IT returns are filed first time in the new name.

(3) What are all the implications, if AGM minutes and documents are submitted to Registrar of Society for annual filing.

 



Learning

 1 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     30 June 2022

Every change in the name of a Society should be made by an amendment of its bye-laws. This has to be notified in the official gazette. There should me one more General Body meeting of Board of Society to pass resolution for approval for the previous resolution of change the name of Society.


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