Section 87(2) in Haryana Co-operative Societies Act, 1984
(2)The Registrar may require a co-operative society not to invest the whole or a part of its funds referred to in sub-section (1) in the business of the society.[Explanation. - (1) The net profits of a co-operative society shall be calculated by deducting from the gross profit for the year, all interest accrued and accruing in relation to amounts which are overdue, establishment charges, interest payable on loans and deposits, audit fees, working expenses including repairs, rent, taxes and depreciation, bonus payable to employees under any law relating to payment of bonus for the time being in force, and equalization fund for such bonus, provisions for payment of income-tax and approved donations under the Income-tax Act, 1961 (43 of 1961), development rebate, provision for development fund, bad debt fund, price capital redemption fund, investment fluctuation fund, provision for retirement benefits to employees and after providing for or writing off bad debts and losses not adjusted against any fund created out of profit.
