04-04-2007, 09:58 PM
SALAM TO ALL
MY NAME IS MUDASSIR,I M AUDIT SUPERVISOR IN AN AUDIT FIRM,NOW ADAYS I M HANDLING THE AUDIT OF HOUSING SOCIETY WHICH IS PROFIT ORIENTD.I HAVE A QUIERY THAT THERE IS LAND WHICH IS PROPERTY OF SOCIETY AND NOT A PROPERTY OF GOVERNMENT DUE TO GOT A INFINITE TIME LEASE FROM GOVERNMENT.
SOCIETY HAS MEMBERS IN THE FORM OF CUSTOMERS WHO GOT PLOT IN THIS SOCIETY.SOCIETY ALLOTED PLOT TO MEMBERS WITH LEASE WITH OUT POSSESION.PLEASE TEL ME THE TREATMENT OF LAND AND ADVANCE TAKEN FROM MEMBERS AFTER POSSESION OF LAND OF 99YEARS LEASE.
LAND CONSIST OF
COST OF LAND,DEVELOPMENT CHARGES
ADVENCED FROM MEMBERS CONSIST OF
COST OF LAND,INTERNAL AND OUTER DEVELOPMENT CHARGES.
MY NAME IS MUDASSIR,I M AUDIT SUPERVISOR IN AN AUDIT FIRM,NOW ADAYS I M HANDLING THE AUDIT OF HOUSING SOCIETY WHICH IS PROFIT ORIENTD.I HAVE A QUIERY THAT THERE IS LAND WHICH IS PROPERTY OF SOCIETY AND NOT A PROPERTY OF GOVERNMENT DUE TO GOT A INFINITE TIME LEASE FROM GOVERNMENT.
SOCIETY HAS MEMBERS IN THE FORM OF CUSTOMERS WHO GOT PLOT IN THIS SOCIETY.SOCIETY ALLOTED PLOT TO MEMBERS WITH LEASE WITH OUT POSSESION.PLEASE TEL ME THE TREATMENT OF LAND AND ADVANCE TAKEN FROM MEMBERS AFTER POSSESION OF LAND OF 99YEARS LEASE.
LAND CONSIST OF
COST OF LAND,DEVELOPMENT CHARGES
ADVENCED FROM MEMBERS CONSIST OF
COST OF LAND,INTERNAL AND OUTER DEVELOPMENT CHARGES.
