NOC for Housing Society Accounting

Many Societies charge a Non Occupancy Charges for Apartments that are rented.  These charges are made part of the Monthly or Quarterly Invoices or Demand Notes. Here are a few…

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Asset Tracker Enhanced to Track Inventory

Dear ADDA Admins, The Asset Tracker has been upgraded to track Inventory as well. Now you can track the inflow and outflow of any inventory that you are interested in…

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LIVE view of Late Payment Interest

When  you view the Account Statement of the Resident, you will be able to view the Late Payment Interest Accrued since the last Invoice posted.  The Resident can also view…

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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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Bye-Laws for Apartment Owners Associations

As Per the Karnataka Apartment Owners Act, the purpose of the Bye-Laws and the norm of framing them are as below . (1) The administration of every property shall be governed…

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Expense Tracker Enhancements

Dear ADDA Treasurers, apartment billing software The Expense Tracker (part of Premium PRO & Premium LITE Accounting packages) just got a tremendous face lift. Here are the differences you will…

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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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General Meetings for Apartment Owners Associations

Wondering when exactly the General Meeting of Apartment, commonly known as the Annual General Meeting needs to be held – as mandated by the Legislation?  Here are the specifics as…

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Double Taxation for Apartment Owners

Have you thought about the fact that Owners of Apartments or Villas in a Gated Community get subjected to Double Taxation? Here is how: Apartment Owners being Property Owners have…

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Should Societies collect Service Tax from Members

This is a question often faced by newly formed Associations / Societies. Should they collect Service Tax on the Maintenance Charges or not? Do the activities of the Association qualify…

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