Co-Op HSG Society cannot charge Transfer fees in excess of permissible fees as donation

Alankar Sahkari Griha Rachana Sanstha Vs Atul Mahadev Bhagat & Anr (Bombay High Court) When the persons come together with common object of housing, after formation of a Cooperative Society, they are governed under rules and bye-laws of Maharashtra Cooperative Societies Act. So far as the members are concerned, the Cooperative Housing Society can collect or increase its funds only by legally permissible charges or fees. The Society is not expected to indulge into profiteering business from the members and if such amount is earned, then it is taxable under the law. There is no bar for any m...