An apartment owners association or Housing society can claim service tax credit if the service provided and received by association falls in same category of service. The Finance Act, 2002 has amended Section 94 of the Finance Act, 1994 to provide for credit of Service. As per section 94(2)(ee) of the Finance Act, 1994, Central [...]
Owners Association
Articles and Resources about Owners Association
Now Your Property Too Gets A Unique Identification Number
Tuesday, October 26th, 2010Bangalore property owners finally gets their unique Property Identification Number. The surveys for PID updation began last month and are expected to be completed by November-end. According to BBMP sources, two team each team comprises engineers, a tax inspector and revenue inspector have been going around the ward, mapping properties and taking their photographs. The [...]
Can I Run My Business In My Residential Flat?
Tuesday, October 19th, 2010You may be in confusion that whether running your Yoga class or tuition class in your residential apartment is breach of byelaw or not. It is true that a residential apartment cannot be used for commercial activities by a member or third-party. Commercialization of residential apartment is often opposed by apartment owners association and its [...]
How to Make Association Meetings More Effective
Wednesday, September 15th, 2010Running an effective meeting is more than sending out a notice that Association or RWA is to meet at a particular time and place. Actions that make meetings successful require management before, during, and after the meeting. If you neglect any one of these opportunities, your meetings will not bear the fruit as you desire. [...]
Investment option for Apartment Owners Association
Thursday, July 29th, 2010Apartment owners’ associations were put into effect to help neighborhoods maintain a look of uniformity and keep property values at their highest possible levels. The associations generally collect monthly dues in an amount barely sufficient to pay for common area maintenance and other expense. Traditionally, investment strategy was simple as interest rates were good and [...]
Checklist for Handover from Builder to Owners Association
Friday, June 18th, 2010Each apartment complex has its own apartment owners association for maintenance of apartment and its amenities. But before formation of apartment owners association, it is duty of builder to maintain the apartment and its amenities. Most developers provide a corpus fund for maintenance of apartment and its amenities. The maintenance will be carried out by [...]
Electing Managing Committee for an Apartment Complex
Thursday, April 29th, 2010Managing Committee of an apartment complex maintains common areas, amenities and attends complaints from apartment owners or residents of apartment complex. The Management committee is typically composed of a President, a Vice President, a Secretary, a Treasurer (together known as the Executive Committee) and 8 other members. Management Committee represents apartment owners association before all [...]
