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Books to be maintained by co-operative Society

Books to be maintained by co-operative Society

Rule 39 of the DCS Rules, 2007 specifies Accounts and other books to be maintained by co-operative societies: – Every co-operative society shall keep and maintain the following books of accounts for the purpose of recording the business transacted by it, namely:-

(a) Minutes book for recording the proceedings of the general body,

Committee/any sub committee;

(b) Register of applications for membership containing the name and address of the applicant,

number of shares applied for, and in case of refusal, the date of communication of the

decision refusing application of the applicant;

(c) Membership Register, containing the date of membership, name of member, name of

father/husband, address of member, no. of shares purchased, name of the nominee with

relationship, date of cessation of membership, signature of the member and remarks. In

case of housing co-operative societies, the Bank account of the member and address of

the bank, the PAN, Electoral photo identity card (EPIC), certificate of gazetted officer

attesting signature and photograph of member and an affidavit as prescribed shall be

maintained by cooperative housing society;

(d) Share allotment register along with details of amount paid therefore;

(e) Cash book, showing daily receipts and expenditure, and the balance at the end of

each day;

(f) Receipt book, containing forms in duplicate, one of each set to be issued for

money received by the society and the other to serve as counterfoil;

(g) Voucher file, containing all vouchers for contingent expenditure incurred by the

society, numbered serially and filed chronologically;

(h) Ledger of borrowings, showing deposits and other borrowings of all kinds;

(i) In the case of societies issuing loans,

(i) Loan ledger, showing the number and date of disbursement of each loan

issued to member, the amount of loan, the purpose for which the loan is granted and

the date or dates of repayment, distinguishing principal and interest;

(ii) Liability/surety register showing the indebtedness of each member to the

society whether on account of loan taken directly by the member or on

account of loan for which the member stands as surety;

(j) In the case of a co-operative society, if the working capital exceeds twenty

thousand rupees, a general ledger showing receipts and disbursements and the

outstanding under various heads from day to day;

(k) In the case of a co-operative bank, a register of fluid resources showing the

immediate liabilities of the co-operative bank and the extent of fluid resources

available to which the Banking Regulation Act, 1949 (10 of 1949) applies according to

the instructions of the Reserve Bank of India;

(l) Monthly register of receipts and disbursements; and

(m) Register of dividend.

 

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: Co-operatives group housing societies

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5 Comments

  • udayshankar says:
    23/01/2014 at 5:07 pm

    nice information but i want to learn more in accounts regarding deposits,loans and advances and scheme allotted to members of the society …and oblige!

    View Comment
  • Mihir Parekh says:
    19/04/2016 at 3:52 pm

    Hello,
    I want to handle co-operative society accounts and need to know all the information regarding the same, like, what do i need to learn, which accounting course/qualification is required, which accounting software to use and how to manage society accounts. Please advise.

    View Comment
  • ADNAN DADLA says:
    27/06/2016 at 2:55 pm

    Member in CHS has requested for copies of cash and bank book willing to pay the necessary charges, should the Managing Committee provide him with copies or only allow inspection of the same in the Society’s office. Kindly advice.

    View Comment
  • Shilpita Mundhra says:
    19/07/2016 at 12:16 pm

    My friend has a cooperative society registered in 2007. But since inception, she has not maintained any books or accounts. Now she wants everything from scratch. How to proceed further with it? She needs to show where has all the expenses incurred and what were the income and deposits. Kindly suggest…

    View Comment
  • Secretary. Coop. Dte. Credit Society says:
    28/03/2018 at 1:27 pm

    A member of a cooperative credit society ltd repeatedly withdraw his membership with withdrawing all his deposits along with thrift fund and after expiry of a year or so he again applied to the society to readmit him.This has been a common practice. But this time he gave a declaration in written to the society that he will not apply to give him membership in future. But he again apply to the society for granting his re admission to the society as a member. The B.O.D. has refused to give him membership again. Is the B.O.D. has taken a wrong step? Is this chalengable?

    View Comment

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