Specialist Practice Division
A to Z in Expertise in Maharashtra Co-operative Society Act
Panel Statutory Audits, Model Bye-Law Advisory, Housing Society Governance & Tax Compliance
Maharashtra Co-operative Societies Act, 1960 & MCS Rules, 1961
Institutional Practice Overview
A to Z in Expertise in Maharashtra Co-operative Society Act
Authoritative statutory audits under Section 81 and complete regulatory support for Co-operative Housing Societies (CHS), Commercial Premises, and Credit Societies in Mumbai. From Audit Rectification (Form O) to statutory funds compliance, TDS, GST, and conveyance advisory.
At R.D. Kundalia & Co., our senior partners and qualified associates deliver disciplined, proactive guidance to ensure full statutory compliance, protect client rights during regulatory scrutiny, and optimize financial outcomes.
4
Capability Pillars
10
Key Deliverables
1985
Practice Inception
ICAI
Code of Ethics
Governing Statutes & Provisions
Our advisory and attest functions are benchmarked against key legislative mandates:
- Section 81 (Mandatory Statutory Audit by Empanelled Auditors)
- Section 82 & Form O (Audit Rectification Report)
- Section 70 (Mandatory Investment of Sinking & Reserve Funds)
- Section 79 (Filing Annual Returns with Registrar of Co-operative Societies)
- Model Bye-Laws of Co-operative Housing Societies (2014 / 2024)
- Section 80P (Income Tax Deductions for Co-operative Societies)
Statutory Forms & Schedules
Disciplined Statutory Oversight • 40+ Years Practice Continuity
Statutory Certainty in a Digitally Monitored Regulatory Era
“Managing cooperative housing societies requires blending transparent statutory accounting with sensitive member consensus and redevelopment diligence.”
— Partner, Cooperative Institutions
Statutory audits under Section 81, Form O rectification, deemed conveyance advisory, and member dispute resolution support.
Core Competency Matrix
Four Pillars of Practice Mastery
Structured into specialized sub-disciplines to provide end-to-end statutory depth.
Statutory Co-operative Audit (Sec 81)
- Annual statutory audit conducted by government-empanelled Chartered Accountants
- Verification of cash books, bank books, member maintenance ledgers, and voucher trails
- Issuance of formal Audit Memo and assignment of Audit Classification Grade (A, B, or C)
- Verification of statutory Sinking Fund, Repair Fund, and Reserve Fund allocations
Audit Rectification (Form O) & Registrar Filings
- Drafting the mandatory Audit Rectification Report in Form O addressing all audit remarks
- Submission of Form O to the Registrar of Co-operative Societies within statutory deadlines
- Assisting Managing Committees with adoption of audit reports at the AGM
- Preparation and filing of Annual Returns with the Registrar under Section 79
Society Bye-Law Governance & Accounts
- Implementation of transparent, computerised society accounting systems
- Scrutiny of flat transfers, associate memberships, and transfer premium compliance
- Statutory investment advisory for society funds in co-operative and nationalised banks (Sec 70)
- Managing committee advisory regarding legal powers, election norms, and AGM protocols
Direct & Indirect Tax for Societies
- Income Tax Return filing for Co-operative Societies in Form ITR-7
- Maximizing statutory deductions under Section 80P for interest and dividend income
- TDS compliance on contractor payments, security, repairs, and professional fees (Sec 194C/J)
- GST advisory, registration, and return filing on society maintenance and commercial billings
Comprehensive Scope of Services
Every engagement under Maharashtra Co-operative Societies Act is executed with meticulous documentation, statutory accuracy, and accountable reporting.
Mandatory Statutory Audit under Section 81 by Empanelled Auditors
Compliant with Maharashtra Co-operative Societies Act, 1960 guidelines and ICAI audit standards.
Audit Memo Issuance & Society Grade Classification (Grade A, B, C)
Compliant with Maharashtra Co-operative Societies Act, 1960 guidelines and ICAI audit standards.
Preparation & Submission of Audit Rectification Report (Form O)
Compliant with Maharashtra Co-operative Societies Act, 1960 guidelines and ICAI audit standards.
Model Bye-Law Compliance & Member Maintenance Ledger Review
Compliant with Maharashtra Co-operative Societies Act, 1960 guidelines and ICAI audit standards.
Statutory Reserve, Sinking & Major Repair Funds Verification (Sec 70)
Compliant with Maharashtra Co-operative Societies Act, 1960 guidelines and ICAI audit standards.
Annual Returns Filing with Registrar of Co-operative Societies (Sec 79)
Compliant with Maharashtra Co-operative Societies Act, 1960 guidelines and ICAI audit standards.
Co-operative Society Income Tax Return Filing (ITR-7) & Section 80P Benefits
Compliant with Maharashtra Co-operative Societies Act, 1960 guidelines and ICAI audit standards.
Quarterly TDS Compliance for Society Vendor & Contractor Payments
Compliant with Maharashtra Co-operative Societies Act, 1960 guidelines and ICAI audit standards.
GST Advisory & Returns for Commercial Premises & Large Housing Societies
Compliant with Maharashtra Co-operative Societies Act, 1960 guidelines and ICAI audit standards.
Conveyance, Deemed Conveyance & Redevelopment Financial Scrutiny
Compliant with Maharashtra Co-operative Societies Act, 1960 guidelines and ICAI audit standards.
Who We Advise & Represent
Structured Engagement Lifecycle
Statutory Diagnosis & Records Review
We analyze your transactional records, existing filings, and identify applicable provisions, exemptions, and compliance risks.
Reconciliation & Algorithmic Audit
Our team runs exhaustive multi-source reconciliations (ledgers, bank statements, government portal logs, statutory schedules).
Partner Review & Quality Attestation
Every filing and certification is vetted by a partner in accordance with ICAI Auditing Standards (SA) and relevant statutory rules.
Filing, Representation & Ongoing Support
We handle electronic filing with authorities, secure acknowledgements, and provide defense representation during departmental queries.
Consult a Specialist in Maharashtra Co-operative Societies Act
Whether you have an upcoming statutory filing deadline, need audit attestation, require registration with authorities, or face scrutiny notices, connect directly with our partner team in Kandivali, Mumbai.
Direct Partner Access
09323588800
rashmikantkundalia@yahoo.co.in
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Maharashtra Public Trust Act (Charity Commissioner)A to Z in Expertise in Maharashtra Public Trust Act
Decades of trusted regulatory practice under the Maharashtra Public Trusts Act, 1950. We support religious, educational, and public charitable trusts with statutory Schedule VIII & IX audits, Change Reports, Charity Commissioner approvals, and integrated Central Income Tax exemptions.
Goods & Services Tax (GST Act)A to Z in Expertise in GST Act
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Government Schemes & FTAsA to Z in Expertise in Government Schemes & FTAs
Strategic advisory and execution across India's Foreign Trade Policy, multilateral Free Trade Agreements (FTAs/CEPAs/ECTAs), and central/state manufacturing incentive schemes. We assist corporate enterprises with Production Linked Incentive (PLI) compliance, RoDTEP scrip management, Advance Authorisation, EPCG duty-free capital imports, MOOWR bonded manufacturing, Preferential Rules of Origin (CoO) certifications, and Maharashtra PSI industrial subsidies.