Rera News

Does the promoter need to audit his accounts?

Does the promoter need to audit his accounts?

The promoter must audit his accounts and obtain a certificate within six months after the end of each financial year through a chartered accountant. During the audit, it was verified that the sums collected for a particular project were used for that project and withdrawn in proportion to the percentage of project completion.

Related FAQs

What is Promoter under RERA Act?
The definition of promoter includes private and government bodies that…
Read More
Does RERA also cover rental arrangements?
No. RERA does not cover rental arrangements across all states…
Read More
Should I pay for a super built-up area?
No. The builder cannot charge for the super built-up area.
Read More
What do I need to submit for each withdrawal from a RERA Escrow account?
Withdrawals from the RERA Escrow account must be certified by…
Read More
What is a RERA bank account?
RERA Bank Account is a separate bank account maintained by…
Read More
Is RERA a legal entity?
The Act establishes the Real Estate Regulatory Authority (RERA) for…
Read More

Latest RERA News

View More

© 2023 Rera News. All rights reserved.