Interest will be Calculated as mentioned below: Unit A/103 has not paid April’s month Bill. In this case payment has been delayed by 15 days. Unit A/102 has paid Bill of 1000/- on 25th April. In this case, no interest is added and the bill of the month May will be of regular amount. See this also: Co-operative housing society audits!.But the question still remains: How to calculate the rate of interest on maintenance dues payable? 71, members shall be required to pay simple interest at twenty one percent per annum, or, at such lower rate as may be fixed by the General Body, on the outstanding dues to the Society. There is a common question regarding the calculation of Rate of interest on the pending society dues by the defaulters. India has one of the worlds largest collections of songs, music, dance, theatre, folk traditions, performing arts, rites and rituals, paintings and writings.
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