Chapter IX ACCOUNTS, AUDIT, FILING OF DOCUMENTS

Corporate202632 sections12 chapters

23. Books of account

Statutory text

(1) Every society shall keep proper books of account such as cash book, ledger, and the like as required by Income-tax laws or the books as per standards laid down by the Institute of Chartered Accountants of India, at its head office or such other places as may be determined by the Registrar General with respect to,––
- (a) all sums of money received and expended by the society; and
- (b) the assets and liabilities of the society.
(2) The books of account, returns and registers shall be verified and signed by at least two office bearers, authorised by the Governing Body.
(3) The books of account shall be open to inspection during the business hours by the Registrar General, Registrar or any officer authorised by them.

Chapter IX ACCOUNTS, AUDIT, FILING OF DOCUMENTS

Statutory text

(1) Every society shall get its annual accounts audited from an auditor who is a member of the Institute of Chartered Accountants of India, constituted under the Chartered Accountants Act, 1949 or the auditor of the Union territory, Co-operative Department.
(2) The auditor shall not be a member of the Governing Body or family member of any of the office bearer.

Chapter IX ACCOUNTS, AUDIT, FILING OF DOCUMENTS

Statutory text

(1) Every society shall file the following returns, in the prescribed form, with the Registrar within thirty days of holding the annual general meeting,—
- (a) a list of the members duly certified by the President and the Secretary, as on the 31st March of the year, separately showing the deletions and additions during the previous year, if any;
- (b) a list of the office bearers along with their names, addresses and occupations separately showing the deletions and additions during the previous year, if any;
- (c) an annual report on the working of the society by the Governing Body duly certified by the President and Secretary;
- (d) a copy of each of the balance-sheet, receipt expenditure statement and the auditor’s report duly certified by the auditor; and
- (e) a copy of the special resolution, if any passed.
(2) Any society which is required to submit any statement or returns under sub-section (1) fails to do so, the Registrar may depute an officer to prepare the necessary statement or return: Provided that in such cases, it shall be competent for the Registrar to determine, with reference to the time involved in the work and the emoluments of the officer deputed to do it, the charges which the society concerned shall pay to the Registrar General or Registrar and to direct its recovery from the society.

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