https://www.taxtmi.com/acts?id=15366 A multi State co operative society must allocate portions of annual net profits to specified reserves and funds before using the balance: mandatory transfers include a minimum amount to a reserve fund, a prescribed credit to a co operative education fund, and a minimum transfer to a reserve for unforeseen losses. The remaining profits, subject to conditions and bye laws, may be used for dividend within prescribed limits, constitution of special or education funds, capped donations for co operative development or charitable purposes, and ex gratia employee payments. en-us Wed, 21 Sep 2011 13:19:10 +0530 Fri, 05 Jul 2024 14:13:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15366 A multi State co operative society must allocate portions of annual net profits to specified reserves and funds before using the balance: mandatory transfers include a minimum amount to a reserve fund, a prescribed credit to a co operative education fund, and a minimum transfer to a reserve for unforeseen losses. The remaining profits, subject to conditions and bye laws, may be used for dividend within prescribed limits, constitution of special or education funds, capped donations for co operative development or charitable purposes, and ex gratia employee payments. Act-Rules Trust and Society Wed, 21 Sep 2011 13:19:10 +0530 https://www.taxtmi.com/acts?id=15366