Section 24(5) in The Punjab Apartment Ownership Act, 1995
(5)The promoter may collect amounts from the apartment owners before the formation of the association, towards the common expenses or towards the sinking fund for replacement of fixed assets or for payment of Government or municipal taxes or stamp duty or registration fee for the conveyance deed of apartment or other conveyance and the promoter shall be liable to account for such amounts and shall, within three months of the formulation of the association, transfer the surplus amounts in his hands to the association or to the apartment owners, as the case may be.
