Financial

6 Reasons Why A Cashless Society Is Here To Stay

With the new cashless wave gaining momentum in India, societies all over are adopting various ways of doing their bit to forward this initiative. Here’s why everyone should go cashless starting from today –   (Firstly, to avoid

Should Service Tax be collected from Members of Apartment Association?

Apartment Associations are liable to pay service tax to Government of India when one or more members of the association has contributed more than Rs. 5,000/- per month to the association (refer this post for clarity). As

Jan 2014 Circular on Service Tax on Apartment Associations

A new circular has been released by Service Tax department on 10th Jan 2014 attempting to clarify the confusion surrounding applicability of service tax on dues collected from Members. Based on the past circulars of March 2012

All You Need To Know About Service Tax On Apartments

The Union Budget for the fiscal year 2012-13 has raised the service tax on apartments to 12.36 % from the proposed 10.3% in the 2010 Union Budget. The new service tax is applicable to building constructions including

Accounting Enhancement: Service Tax for Non-Member Income

One more enhancement to our Housing Society Accounting Software! With recent Service Tax Regulations that came into effect from July 1st 2012 – most income earned by a Co-operative Housing Society has come under the ambit of

Accounting Enhancement: Automatically Reconcile ApnaComplex Accounts with your Soceity Bank Accounts

In yet another first in Housing Society Accounting Software, ApnaComplex now supports automatic reconciliation of your bank account with the bank ledger account maintained in ApnaComplex.   1. Society Treasurers / Auditors can Upload the bank statement

Announcing “Automated Scheduled Reports” Module

We are happy to announce a key new addition to ApnaComplex feature set – ‘Automated Scheduled Reports’ – that is available for every society. With this feature, any one in your society can now receive various reports

Housing Society Knowhow – What You Should Know About Prepaying Loans

Prepayment Penalty is a nightmare that is suffered by the individual borrowers who take home loans for buying apartments. A prepayment loan generally means that all debts have to be paid before the due date. Prepayment penalty

Accounting Enhancements: Book Closing for a Financial Year

We have released an enhancement to Accounting in ApnaComplex. Most societies have a need to ensure that accounts are not “modified” unintentionally (or intentionally) once the accounts are audited and approved by the general body. To meet

Accounting Enhancements: Viewing Deleted Expenses / Non-Member Income Entries

ApnaComplex now provides a view into the audit logs that are maintained in the software automatically. Administrators can now see the list of expenses and non-member income entries that were deleted along with the time stamp of