VARIOUS CHARGES DETAIL WHICH IS TO COLLECTED FORM MEMBER AND DECIDED IN FIRST GENERAL BODY MEETING

PROPERTY TAX

Muncipal Coporation /Muncipality is raising bills on society on the basis of area of Flat/Shop and Rental Value of Flat/Shop of member. The society has to obtain such flat area*rental value list from Muncipality on the basis tax has been imposed. Muncipal Tax must be collected in advance. It is paid to Muncipality in advance as per rule of Bombay Muncipal Coporation Act.

WATER CHARGES

Water charges are to be collected on the basis of total number of inlets provided in the flat. i.e. No. of line comes in to flat from OH Water Tank.

SINKING FUND

As per ByeLaws minimum 1 / 4% per annum of built up cost of the flat,excluding proportional cost of land.

e.g. 0.25% of built up cost of flat Rs. 1000 * 500 Sq.Ft. = 1250 / 12 month = 104.16

i.e. Rs 104 per month contribution from flat area 500 Sq.Ft. Built up cost differs from place to place and type of construction. [minimum cost in MUMBAI and THANE DIST. is 1000/-]

Sinking Fund is compulsory and yearly collected amount is invested in Fixed Deposit with remark Sinking Fund in Dist. Central Bank for long time FD.

MAINTENANCE CHARGES

The following expences of the society constitute maintenance charges

1.salaries of watchman, sweeper etc

2.Travellingexpence of committee member for society

3.Printing and stationary

4.Meeting expenses

5.Culture expenses

6.Other management expenses

7. Accounting charges

As per Bye-Laws of society this charges are to be contributed equally among memberof society

REPAIRS FUND

As per ByeLaws minimum 3 / 4% per annum of built up cost of the flat,excluding proportional cost of land.

e.g. 0.75% of built up cost of flat Rs. 1000 * 500 Sq.Ft. = 3750 / 12 month = 312.50

i.e. Rs 312 per month contribution from flat area 500 Sq.Ft. Built up cost differs from place to place and type of construction. [minimum cost in MUMBAI and THANE DIST. is 1000/-]

Repairs Fund is compulsory and yearly collected amount is invested in Fixed Deposit with remark Repairs Fund in Dist. Central Bank for short time FD

COMMON ELECTRICITY CHARGES

Common light and waterpump running bils are comeing under theseexpencses. As per Bye-Laws of society this charges are to be contributed equally among memberof society

LIFT CHARGES

It include Annual AMC + lift electricity bill . Must be equally shared by all members whether they use the lift or not.

PARKING CHARGES

The society should collect parking charges from the members At the rate fixed by the general body of the society

Generally Parking Charges are charged as follow

1. 4 Wheeler Rs. 100/-
2. 3 Wheeler Rs.  75/-
3. 2 Wheeler Rs.  50/-

It is member duty to inform the committee ehrn they stated parking there vehicles in the premises of society when the sold or stopped for parking.

NOTE- For vehicle stealing,petrol stealing society is not resopnsible,member should park vehical At his own risk. This point is to be made very clear.Resolution should be passed in G B Meeting Notice is to be display on  Notice Board and Parking Area to safe gurd societys interest

NON AGRICULTURAL TAX [NA TAX]

On the basis of built up area of each flat Na TAX has to pay to Hon. Teshildar Office

NON OCCUPANCY CHARGES

These charges are charged to the member who do not stay but keep his Tenant / Care Taker in the flat.

The society is entitled to collect non-occupancy charges as per the GR issued by Govt. from time to time [see the GR issue on 01/08/2001 post on my blog]

The present rate fixed by Govt. is that the non-occupancy charges should not exceed 10% of Monthly Bill after deducting Property Tax and NA TAX from bill.

The society should not collect non-occupancy charges if the flat is occupied by the family members of the member like Husband ,Wife, Father,Mother,Sister,Brother,Son,Daughter, Grandson,Granddaughter and In-laws etc.

The society should not collect non-occupancy charges if the flat is occupied by a flat purchaser intending to become member of the society Order dt. 01/08/2001 passed by Govt.

INSURANCE CHARGES

The society should collect insurance charges on the basis of the built up area of each flat.If the society has to pay any extra premim on account of storage of any specific goods in any flat or shop in the building of the society ,those members who are resopnsible for storage of such googs must be made to pay the extra premium

Insurance cover include All building of society + all electricity meter + all water pump + Pump room + compound wall + and other structure in compound wall against earthquak and fire protection

INTEREST ON OVER DUE 

When monthly bill are not paid up to date fixed by G B Meeting then it attract penal interest in next month. As per Bye –Laws simple interest rate is from 2% to 21% P.A. and not more than that . Generally 18% interest is charged in all society and it also consider by Dy. /Asst. Registrar at time of recover U/S 101 .

Interest is to be imposed on Arrears of bills out standing – interest arrears. Do not impose interest on Current Month Bill.

AUDITING CHARGES

Govt. fixed it in the year 1991 tillfurther notice. Following are the Audit fees for year

1. For Muncipal Coporation / Development Autho. area Rs. 36/- per member
2. For Muncipal Councial / Muncipalities area Rs. 24/- per member
3. For Gram Panchayat / Rural  area Rs. 12/- per member

EDUCATIONAL FUND

As per MCS ACT 1960 for co operative housing society educational fund is imposed Rs. 3/- per member per year. This is to be paid by Cheque in name of  MAHARASHTRA RAJYA SAHAKARI SANGH at your district co-operative board office on or before 30 june every year


FEDERATION SUBSCRIPTION/ FEES CHARGES
As per MCS ACT 1960 every society immediately after its registration shall become member of either Teshil / Taluka or District Federation member. The society has to pay the annual subscription every year

As per Bye-Laws of society this charges are to be contributed equally among memberof society

TRANSFER PREMIUM

As per GR dated 01/08/2001 [see the blog] it should not more then limit

for Muncipal Corporation Rs. 25000/-

for Muncipalities  A CLASS Rs. 20000/-

for Muncipalities  B CLASS Rs. 15000/-

for Muncipalities  C CLASS Rs. 10000/-

for Rural sector Rs. 5000/-

accordly you should deside charge @ Rs. per Sq ft.in G B Meeting

BANK CHARGES

In this Cheque return  charges should take from member whose cheque is return from bank .

POSTAGE CHARGE

In this thouse member who keep his Tenant And want Monthly bill and other document to other address by Posat / Courier Take charge from them for that postage.

TERRACE AND OPEN GROUND CHARGES

Member should fixed the charge for use of terrace or open ground for some function or party by member of society And also fix for hrs.. and other detail and rule related to this.

OTHER CHARGES 

decided in General body meeting  

please passed the resolution in First General Body Meeting for all above charges and take sign from Officer of the co-operative department. This charges you can increase after that in  General Body Meeting