Funds not to be divided by way of profit.

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..... 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 amounts which are .....

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..... its for the year interest accrued in the preceding years, but actually recovered during the year: Provided further that in the case of such multi‑State co‑operative societies as do not have share capital, the surplus of income over expenditure shall not be treated as net profits and such surplus shall be dealt with in accordance with the bye‑laws. - - statute, statutory provisi .....

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