By Accommodation Times Bureau
Mumbai:
Recently the State Consumer Disputes Redressal Commission mentioned that stilt parking or open parking both of which are part of common facilities and builders have no rights to sell parking space.
According to the Commission only housing society’s general body having rights to allot the parking space to flat owners. The commission directed [...]

By Accommodation Times Bureau
Kushal K. Bangia vs. ITO (ITAT Mumbai) – In principle, though the scope of “income” in s. 2(24) is very wide, a capital receipt is not chargeable to tax as income unless there is a specific provision to that effect. As the residential flat owned by the assessee in the society’s [...]

As per Sec. 2(7) of the Maharashtra Co-Operative Societies Act, Committee means the Committee of management or board of directors or other directing body, by whatever name called, in which the management of the affairs of a society is vested under section 73.
As per the Bye-law No. 3 (iv), the term “Committee” means the committee [...]

When member termed as a defaulter?
The member who fails to make required payment within the due date of bill, then he can be categorized as a defaulter. In such circumstances Society can also charge interest. It is important that there should be a demand upon the member by the society time to time by [...]

Share Certificate is one of the most important documents issued to the members of the Co-operative housing society. The member who has lost his Original Share Certificate should make an application to the Society with Indemnity bond stating that he has misplaced/ lost his Original Share Certificate. On receipt of the application the Secretary should [...]

The Managing Committee members must execute bond after their appointment within 15 days of their assuming the office under the Maharashtra Co-operative Societies Act 1960. The provision is important because if the bond is not executed within 15 days of his assuming the office or if the member fails to execute the bond he shall [...]

By Adv. Vinod Sampat
a) Formation of Co-operative Housing Society
Practically every developer has to form a Co-operative Housing Society at one point of time or another. With the limited amount of options available with regard to management of the affairs of the building i.e. (a) Condominium (b) Private Limited Company and (c) Co-operative Society, (excluding the [...]

NON – Taxability of surrender of tenancy rights prior to 1-4-94
By Vimal Punmiya, Chartered Accountant
The issue regarding taxability/non-taxability of surrender of Tenancy rights is giving sleepless nights to millions of Tenants, especially in city like Mumbai where Pugree system is in great vogue.
The decision of the Special Bench constituted by the Bombay Tribunal in [...]

By Chhaya Dhuri
“Bye-laws”:- means bye-laws registered under the Maharashtra Societies Act, 1960 for the time being in force and includes registered amendments of such bye-laws.
The bye-laws are meant for internal management of the society. The bye-laws of the society must be registered by the Registrar and it is binding on the society with the [...]

The Act provides that every society has to maintain record/documents and accounts for smooth working of the society. There are different issues of disputes arises in every society between Managing Committee and members. It is advisable to solve the disputes amongst the members only and not to hand over the management of the society to [...]