Funds not to be divided by way of profit.
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....ti‑State co‑operative society shall be divided by way of bonus or dividend or otherwise distributed among its members. (2) The net profits of a multi‑State co‑operative society referred to in sub‑section (1) in respect of a society earning profits shall be calculated by deducting from the gross profit for the year, all interest accrued and accruing in relation to a....
TaxTMI