Step-by-Step Process for Housing Society Filing
Step 1: Finalization of Accounts
- Prepare Income & Expenditure Account
- Prepare Balance Sheet as on 31st March
- Verify bank balances and member dues
Step 2: Conduct Statutory Audit
- Appoint authorized society auditor
- Complete statutory audit of accounts
- Obtain Audit Report and remarks
Step 3: Conduct Annual General Meeting (AGM)
- Issue AGM notice to members
- Present audited accounts
- Approve budget and audit report
- Record AGM minutes
Step 4: Prepare Annual Return
- Compile society details
- Update managing committee information
- Prepare member list and financial summary
Step 5: File Returns with Registrar (RCS)
- Upload annual return online (where applicable)
- Submit audit report and financial statements
- File required statutory forms
Step 6: Payment of Statutory Fees
- Pay filing fees or penalties (if any)
- Preserve challan/receipt
Step 7: Record Maintenance
- Maintain copies of filed returns
- Keep records ready for inspection or future reference
Due Date for Housing Society Filing
- Annual filing is generally required within prescribed time after AGM
- Audit must usually be completed before AGM
- Delay may attract penalties and notices from RCS
(Due dates may vary slightly by state.)
Penalty for Late Housing Society Filing
Failure to comply may result in:
- Late fees and penalties
- Registrar notices
- Disqualification of managing committee
- Restrictions on society operations
Timely filing avoids unnecessary legal complications.
Benefits of Housing Society Filing with SavingMantra
- ✔ End-to-end society compliance support
- ✔ Accurate audit & return preparation
- ✔ Timely filing with Registrar
- ✔ Expert guidance for managing committees
- ✔ Affordable and transparent pricing
Why Choose SavingMantra?
SavingMantra specializes in society compliance and governance support. Our experienced professionals help housing societies stay compliant, transparent, and penalty-free with minimum effort.
Frequently Asked Questions (FAQs)
Is annual filing mandatory for housing societies?
Yes. Annual filing is compulsory for all registered housing cooperative societies.
Can filing be done without an audit?
No. Statutory audit is mandatory before filing annual returns.
What if AGM is not conducted?
Non-conduct of AGM can attract penalties and regulatory action.
Does SavingMantra handle overdue filings?
Yes. We assist with backlog filings, penalty calculation, and compliance regularization.
Conclusion
Housing Society filing is a crucial annual compliance that ensures legal standing and smooth functioning of the society. Proper filing protects managing committee members from penalties and regulatory action. With SavingMantra, housing societies get reliable, professional, and hassle-free compliance services.