Section 17(4) in The Jammu and Kashmir State Forest Corporation Act, 1978
(4)At the close of the financial year the Corporation shall determine the profits that may have accrued to the Corporation during the preceding year and remit the profits to the State exchequer as revenue of the Government :Provided that in determining the profits, the Corporation shall also take into account all expenses due on account of taxes and dividends, repayment of loans, liabilities incurred but not redeemed and such reserves as the Government may prescribe for the Corporation to build and maintain for the smooth running of the affairs of the Corporation.
