Section 75(2) in The Manipur Co-operative Societies Act, 1976
(2)At every annual general meeting of the society, the Board shall lay before the society a balance sheet and profit and loss account for the year in the manner prescribed by the Registrar by general or special order for any class or classes of societies.Explanation. - In the case of a society not carrying on business for profit, an income and expenditure account shall be placed before the society at the annual general meeting instead of profit and loss account; and all references to profit and loss account in this Act, shall be construed in relation to such societies as reference, respectively, to the "excess of income over expenditure", and "excess of expenditure over income".
