Section 12(1) in The Karnataka Societies Registration Act, 1960.
(1)The governing body of every society registered under this Act shall keep at the registered office of the society or at such other place in the State as the governing body thinks fit, proper books of account with respect to,—(a)all sums of money received and expended by the society and the matters in respect of which the receipt and expenditure takes place;(b)all sales and purchases of goods by the society; and(c)the assets and liabilities of the society.
