Compliance Alert for Cooperative Housing Societies:
Why This Matters
Co-operative Housing Societies (CHS) must stay vigilant about statutory deadlines and compliance routines to avoid penalties, legal complications, and maintain operational transparency. A well-structured compliance calendar—covering audits, AGM proceedings, tax filings, and rectification processes—not only keeps your society legally sound but also fosters accountability and trust among members.
Key Milestones — What You Must Know
| Due Date | Compliance Activity |
|---|---|
| Within 6 Months of FY End | Conduct statutory audit by an approved auditor; appoint auditor at AGM. |
| Before AGM (by Sep 30) | Upload audit report (Form N-1) and issue official Notice for AGM. |
| By September 30 | Hold your AGM to present audit, approve accounts, appoint auditor, and file Annual Return. |
| By October 31 | Submit Form O (audit rectification report) to Registrar and pass in AGM, within 3 months of receiving audit report. |
| By September 30 | File Income Tax Return (ITR-5) if society has taxable income; avoid late fees. |
| As Applicable | Register for GST (if annual maintenance > ₹20L or monthly > ₹7,500), and file GST returns periodically. |
| Ongoing | Maintain records, minutes, accounts, and follow up on grievance redressal via internal or advisory committees. |
Due Dates For Co-Operative Society in Maharashtra
Accounts, Audit and Returns
| Date | Activity | Relevant Law |
|---|---|---|
| 15th May | Finalization of Accounts. | ByLaw No.146(a), MCS Rule 61 |
| 16th–31st May | Keep finalized documents open for member inspection. | MCS Rule 61 |
| 1st June | Hand over accounts to the Statutory Auditor for audit. | MCS Rule 61 |
| 31st July | Target date for Audit Completion to stay on track for AGM. | Section 81 of MCS ACT |
| 31st Aug or 15th Sep | Upload the Audit Report (as applicable) before issuing the AGM Notice. | Section 81 of MCS ACT |
| By 30th September | Hold the AGM on or before 30th September (statutory deadline). | Section 75 of MCS ACT, ByLaw No. 94 |
| By 30th September | File the society’s mandatory Annual Returns. | Section 79 (1A), ByLaw No. 146 (b) |
| By 31st October | File the Mandatory Return of Society about appointment of Auditor (within one month from the AGM). | Section 81 and Section 79(1B) of MCS ACT |
| By 31st October | Auditor to generate the Online Audit Order. | Income-tax Act, 1961 |
| By 31st October | Online Audit order generation by auditor | |
| 1st Nov–31st Jan | Submit Audit Rectification Report within 3 months from submission of the audit report. Rectification Report to be uploaded through Auditor’s login. | Section 82 of MCS ACT |
Note: The above timeline is a practical compliance calendar aligning with common CHS requirements. Always verify any state-specific circulars or Registrar directives applicable to your society.
Penalties & Trustee Responsibility
- AGM delay or non-conduct can trigger show-cause notices, penalties, or directions from the Registrar.
- Non-submission of Audit Rectification within the prescribed period may attract fines and personal accountability of Managing Committee office-bearers.
- Failure to file Annual Returns/mandatory forms can lead to monetary penalties and loss of certain statutory benefits.
- Income Tax/GST non-compliance can result in late fees, interest, and additional penalties.
- Persistent non-compliance can invite stricter actions, including inquiry and supersession of the committee in extreme cases.
Best Practices for Smooth Compliance
- Create a compliance calendar and circulate it to all committee members.
- Freeze year-end timelines for finalization, member inspection, and handover to auditor.
- Issue AGM notice early with agenda, audited statements, and nomination/auditor items.
- Maintain proper records—minutes, registers, vouchers, vendor contracts, and member lists.
- Track post-audit rectifications with a clear action owner and due dates.
- Use digital tools for notices, document sharing, and attendance recording.
- Coordinate with the auditor for timely uploads and online order generation.
- Review tax positions (ITR/GST) and file within due dates to avoid interest/penalties.
- Document every decision in committee meetings for transparency and audit trail.
- Conduct member outreach—publish a summary calendar on the notice board & society groups.
CSLawship’s Support
Need help aligning your society with these deadlines? CSLawship offers end-to-end support: audit coordination, AGM documentation & minutes, return filings, rectification tracking, and guidance on Registrar communications.
We can also set up a custom compliance calendar and reminder system for your society.