multi state cooperative society

The condition is that such society could add to the net revenues for the year interest accrued in the preceding years, however recuperated throughout the year. In case of multi state cooperative societies which do not have share capital, the surplus of earnings over expense will not be dealt with as net earnings and such surplus will be taken care of in accordance with the bye-laws. A multi state cooperative society shall, out of its net profits in any year transfer a quantity not less than twenty-five percent to the reserve fund, credit one percent to cooperative education fund maintained by the National Co-operative Union of India Limited, New Delhi or move a quantity not less than 10 percent to a reserve fund for meeting unanticipated losses. No multi state cooperative society should make a contribution either in money or in kind, whether straight or indirectly, to an institution which has an object of furtherance of the interest of a political celebration. There is a restrictio...

The elections of the cooperative society is held first time within six months from the date of its registration. After that the elections are carried out at every 5 years. A President can stay as a Head of state for two successive times however the 3rd time, the President needs to change. No part of the funds, other than net profits of a multi state cooperative society will be divided by way of perk or dividend or otherwise distributed among its members. The net profits of the multi mention society should be calculated by deducting from the gross revenue for the year, all interest accrued, and building up in relation to quantities which are past due, establishment charges, interest payable on loans and deposits, audit fees, working expenditures consisting of repair works, rent, taxes and depreciation, perk payable to workers under the law relating to repayment of incentive for the time being in force, and equalization fund for such bonus, provision for repayment of income-tax and ...

Management of a Multi State Cooperative Society: -. No part of the funds, other than net profits of a multi state cooperative society act shall be divided by means of reward or dividend or otherwise distributed among its members. In case of multi state cooperative societies which do not have share capital, the surplus of income over expenditure should not be treated as net revenues and such surplus will be dealt with in accordance with the bye-laws. A multi state cooperative society shall, out of its net earnings in any year move an amount not less than twenty-five percent to the reserve fund, credit one percent to cooperative academic training fund kept by the National Co-operative Union of India Limited, New Delhi or transfer a quantity not less than 10 percent to a reserve fund for conference unanticipated losses. Time Taken for registration: -. Generally, the maximum period for a multi state cooperative society registration is 4 months. In case, the application receives an...