17 January 2020
Hi, Can someone please help with the definition of aggregate Turn Over for the Residents Welfare Association. What amount should be included in the 20 lakhs limit mentioned in the circular issued in July 2019.
17 January 2020
Aggregate turnover (total receipts) of the Housing Societies includes society maintenance charges from its members, receipts from investments, income receipts from advertisement board, receipts from mobile towers in premises, Share transfer fee from members, receipts from special purpose use of common area by member (marriage function etc) etc.
Circular in July 2019 increase the maintenance limit to Rs 7500/- but there is no change for limit / definition of aggregate turnover
CAclubindia
