cooperative society

New Delhi —

Member Since June 8, 2019

Management of a Multi State Cooperative Society: -. The elections of the cooperative society is held first time within 6 months from the date of its registration. Thereafter the elections are conducted at every 5 years. A President can stay as a President for 2 consecutive times however the 3rd time, the President has to alter. No part of the funds, besides net profits of a multi state cooperative society will be divided by method of reward or dividend or otherwise distributed amongst its members. The net earnings of the multi provide society shall be calculated by subtracting from the gross profit for the year, all interest built up, and accruing in relation to quantities which are overdue, facility charges, interest payable on deposits and loans, audit charges, working expenses including repair works, lease, taxes and depreciation, incentive payable to employees under the law relating to payment of benefit for the time being in force, and equalization fund for such benefit, provision for payment of income-tax and making approved contributions under the Earnings Tax Act 1961, development discount, arrangement for development fund, bad debt fund, cost variation fund, dividend equalization fund, share capital redemption fund, investment change fund,