NetBanking for your Association Bank Account

Are you – as a Treasurer or Executive Committee member – looking at an alternative way of paying the Vendors other than Cheque payments. Most banks allow Association Bank Accounts…

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Society Accounting Requirements

The guideline for Book-Keeping requirements for Apartment Owners Association is detailed in the Societies Act (1960), some of the specifics about Common Profit & Losses is outlined in the Apartment…

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Welcoming April-2010 with Service Tax, Tally Integration and more!

The Tech team of ApartmentAdda has been burning gallons of midnight oil collating the Accounting related inputs from customers,and running through them with reputed Apartment Auditors. The latest release of…

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Why use the ADDA Society Accounting Software?

What are the Financial transactions that Multi Dwelling Units (Apartment/Villa communities) perform? 1. Invoicing Residents 2. Collecting Payments from Residents 3. Receiving Vendor Invoices 4. Making payments to Vendors 5….

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Income Tax for Apartment Owners Associations

Are Apartment Owners’ Associations in India liable to pay Income tax? Which income categories are taxable and which are exempt? Do they need to file tax returns every year? These…

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