Section 35(4) in The Punjab Co-operative Societies Rules, 1963
(4)The Registrar, may, by a general or special order, direct that a Co- operative Society shall not pay dividend or shall pay dividend at a reduced rate so long as it receives loans and deposits non-members.[35A. Net Profit. (Section 2 (gg) and Section 41 ) - The net profits of a Co-operative Society shall be the profits remaining after allowing for the following charges, in addition to those specified in clause (gg) of Section 2, namely:-] [Rule added by Punjab Government Gazette Notification dated October 14, 1969 (Section 8).](a)all other usual working charges, such as repairs, rent, taxes, subsidies received, depreciation and irrecoverable bad debits written off;(b)capital expenditure written off, either wholly or in part;(c)capital loss actually incurred and not adjusted against any funds created out of profits;(d)provisions for estimated bad debits, if any; and(e)expenses incurred in connection with election of the committee.
