Hi,
Wanted to seek a legal opinion ...
My society has been charging 21% interest PA on society maintenance dues since inception -1998 however it got registered in September 2019 so whatever fund was collected till September 2019 was kept in the bank as FD and tax was also paid on the same.
If the society hasn't paid anything to BMC till 2019 how come they are charging 21% interest on the principal amount ?
We have escalated the same issue to the registerer office in kandivali and they pointed out the same stating "Society can't charge interest on the maintenance until or unless they are registered" hence we have trying for written order from the same.