Specialized CHS Accounting and RERA Advisory Services in Goregaon
Goregaon represents one of Mumbai's most vibrant residential hubs, spanning prominent multi-storey towers in Oshiwara and Bangur Nagar to established residential societies along Film City Road and S.V. Road. Managing a Co-operative Housing Society (CHS) or executing a real estate project today requires strict compliance with the Maharashtra Co-operative Societies Act 1960 and MahaRERA. Our professional CHS Accounting And RERA Advisory Services in Goregaon deliver complete transparency, flawless statutory audits, and protected member interests.
Under the guidance of CA Suresh Kumar Yadav, our firm acts as a trusted financial guardian for housing society managing committees and real estate developers across Goregaon and western Mumbai. We eliminate financial mismanagement, streamline member billing, ensure mandatory statutory audits, and issue required MahaRERA CA certifications for ongoing construction projects.
Part 1: Co-operative Housing Society (CHS) Accounting & Audit
We empower society Chairmen, Secretaries, and Treasurers with end-to-end accounting automation and regulatory reporting:
Automated Billing & Bookkeeping
Computerized monthly maintenance bill generation, computerized receipts, member ledger maintenance, and defaulter tracking with automatic interest calculation.
- Maintenance, Sinking & Repair Fund Split
- Bank Reconciliation & Petty Cash Tracking
- Periodic Balance Sheet & Income Accounts
Statutory Society Audits (MCS Act)
Independent statutory audit under Section 81 of the Maharashtra Co-operative Societies Act 1960. Compilation of Form N-1 / N-2 and rectification reports (Form O).
- Audit Report Presentation for AGM Approval
- Compliance with Standard Bye-laws
- Submission to Deputy Registrar Office
Society GST & TDS Compliance
Managing GST liabilities on commercial hoarding rentals, mobile towers, hall rent, and maintenance bills exceeding ₹7,500/month per member.
- Monthly GSTR-1 & GSTR-3B Filings
- TDS Deductions on Contractor Payments (Sec 194C)
- Form 26Q Filing & Form 16A Issuance
Sinking & Repair Fund Planning
Structuring reserve investments in approved nationalized banks and Maharashtra State Co-operative Bank to maximize yields while ensuring capital preservation.
- Bye-law Compliant Fixed Deposit Schemes
- Investment Registry & TDS Exemption 15G/15H
- Audit Clearance for Major Repair Tenders
Part 2: MahaRERA Advisory & CA Certifications
For real estate developers, builders, and redevelopment projects across Goregaon, strict MahaRERA rules govern capital management. We issue certified CA statutory documents:
MahaRERA Form 3 CA Certificates
Statutory certificate for withdrawal of funds from the 70% designated RERA escrow account, verifying that withdrawal corresponds to project percentage completion.
- Land & Construction Incurred Cost Verification
- Architect (Form 1) & Engineer (Form 2) Reconciliation
- Zero Penalty Escrow Compliance
Form 5 Annual Financial Audit
Mandatory annual audit of real estate projects under Section 4(2)(l)(D) of RERA Act, verifying project collections, pass-throughs, and lawful fund utilization.
- 70% Escrow Account Verification
- RERA Web-Portal Upload & Filing
- Quarterly Financial Progress Updates (QPR)
Society Redevelopment Advisory
Financial due diligence for housing societies undergoing redevelopment under Section 79A of MCS Act. We protect members' long-term financial equity.
- Developer Balance Sheet & Track Record Audit
- Corpus Fund & Hardship Allowance Structuring
- Bank Guarantee & Rent Advance Vetting
Deemed Conveyance Advisory
Financial reconciliation, builder account settlement, and documentation support to secure freehold land ownership before the District Deputy Registrar.
- Unspent Builder Deposit Verification
- Stamp Duty Assessment Coordination
- Final Handover Financial Clearance
Why Housing Societies in Goregaon Trust CA Suresh Kumar Yadav
| Aspect | CA Suresh Kumar Yadav Firm | Part-Time Local Bookkeepers |
|---|---|---|
| Statutory Authority | Empaneled ICAI Fellow CA with MCS Act Expertise | Uncertified individuals lacking statutory legal standing |
| Audit Readiness | Clean, computerized ledger books ready for Registrar | Manual handwritten books prone to disputes & delays |
| Tax & Legal Protection | Complete coverage of GST, TDS, and Registrar compliances | Frequent omissions causing heavy late fees & notices |
| Redevelopment Expertise | In-depth financial scrutiny of builder tender proposals | No understanding of RERA, escrow, or Sec 79A provisions |
4-Step Society Onboarding Process
Managing Committee Briefing & Handover
We meet with the Chairman, Secretary, and Treasurer at our Goregaon office or your society premises to review prior audit reports and ledger status.
Digitization & Member Ledger Setup
All bank accounts, fixed deposits, maintenance rates, and member profiles are mapped into our automated cloud housing society accounting system.
Monthly Billing & Statutory Reconciliations
Monthly maintenance bills with automated GST are generated, vendor TDS is deducted and remitted, and monthly bank statements are balanced.
Annual Statutory Audit & AGM Certification
We finalize the Annual Balance Sheet, Income & Expenditure account, issue the formal Audit Report, and prepare filings for the Deputy Registrar.
Frequently Asked Questions (FAQs)
What is the deadline for conducting a Housing Society Annual Audit in Mumbai?
Under Section 81 of the Maharashtra Co-operative Societies Act, the financial accounts for the year ending March 31st must be audited by an authorized Chartered Accountant before July 31st. The audited financial statements must then be approved in the Annual General Meeting (AGM) held on or before September 30th.
When does a builder need a Chartered Accountant under MahaRERA?
Under MahaRERA provisions, developers require a CA certificate (Form 3) every time they withdraw money from the 70% project escrow bank account. Additionally, an annual project audit report in Form 5 must be certified by a practicing Chartered Accountant within six months of the end of every financial year.
How are corpus fund and rent from redevelopment treated for income tax?
As per settled legal precedents, hardship allowance / compensation received by existing members from a developer for relocation during redevelopment is considered a capital receipt and is generally exempt from income tax. Similarly, corpus fund compensation to the society is structured to minimize taxation. We structure these agreements with legal precision.
What is the penalty if a housing society fails to submit an audit report?
Failure to audit accounts and place them before the AGM by September 30th can lead to the disqualification of Managing Committee members by the Deputy Registrar, imposition of monetary penalties, or the appointment of an external government administrator to run the society.
Do you offer on-site accounting services for societies in Goregaon?
Yes. We offer both digital cloud-based accounting and periodic on-site visits by our accounting personnel to your society office in Goregaon East or Goregaon West to collect vouchers, balance petty cash, and coordinate with committee members.
Protect Your Society's Finances & Meet All RERA Mandates
Schedule a consultation for your housing society managing committee or real estate development firm with CA Suresh Kumar Yadav today.