Section 57(1) in The Tripura Co-operative Societies Act, 1974
(1)A society earning profits shall calculate the net profits by deducting from the gross profits for the year, all interest accrued and accruing in accounts which are over due, establishment charges, interest payable on loans and deposits, audit fees, working expenses including repairs, rent, taxes and depreciation, and after providing for or writing off bad debts and losses not adjusted against any fund created out of profits. A society may, however, add to the net profits for the year, interest accrued in the preceding years, but actually recovered during the year. The net profits thus arrived at, together with the amount of profits brought forward from the previous year, shall be available for appropriation.
