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viswanathan (Accountant)     27 December 2013

Housing society balance sheet

At the AGM meeting of my housing society, they submitted a Balance sheet for year ened 31.03.2013, wherein they have not shown the income which collected by renting the ground floor to the members personal function. secondly, in the liability side there was a carried forward profit of Rs.50000/- and during the current year loss was about Rs.48000/- . then, after deduct the loss,  they should show Rs.2000/- in the asset side. Instead of that figure they manipulated some figure (Rs.12500/-) in the asset side and tallied the Liablity and Asset side. I had noticed this mistake to the management , but they were not ready to accept or rectify it. In this case, where to approach for rectification of Balance sheet or complain about the misdeeds of the society.

regards

s.k. viswanathan

 



Learning

 1 Replies

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     30 March 2014

I find that no one has answered this query for the past 3 months. Are you still interested? If so please let me know the following.

1. Location of your Society in India.

2. What type of society is it : Co-operative Society, Registered with registrar of Assurances, Registered under the Societies Registration Act, unregistered Society or any other?

3. How many members are there in the Society and what is the annual turn over?

4. Does the Society submit income tax returns?


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