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Kinds of multi state cooperative societies and guidelines: -

A multi state cooperative society is of different types- Credit, Housing, Farming, Transportation, Hospital, Sugar, Stores, Fishery, Handloom, Labor, Customer and Multi Purpose Co-operative Society. The fundamental formalities for forming this society is to arrange at least 50 members from two states each.

 multi state cooperative society

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The net earnings of the multi provide society shall be calculated by subtracting from the gross profit for the year, all interest built up, and accruing in relation to quantities which are overdue, facility charges, interest payable on deposits and loans, audit charges, working expenses including repair works, multi state cooperative society lease, taxes and depreciation, incentive payable to employees under the law relating to payment of benefit for the time being in force, and equalization fund for such benefit, provision for payment of income-tax and making approved contributions under the Earnings Tax Act 1961, development discount, cooperative society arrangement for development fund, bad debt fund, cost variation fund, dividend equalization fund, share capital redemption fund, investment change fund, share capital redemption fund,

The net earnings of the multi mention society will be calculated by deducting from the gross profit for the year, all interest built up, and accruing in relation to amounts which are past due,multi state facility charges, interest payable on loans and deposits, audit charges, working costs consisting of repair works, rent, taxes and depreciation, bonus payable to workers under the law relating to payment of incentive for the time being in force, and equalization fund for such reward, multi state cooperative society.

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A President can stay as a President for 2 consecutive times however the 3rd time, the President has to alter. No part of the funds, besides net profits of a multi state cooperative society will be divided by method of reward or dividend or otherwise distributed amongst its members. The net earnings of the multi provide society shall be calculated by subtracting from the gross profit for the year, all interest built up, multi state and accruing in relation to quantities which are overdue, facility charges, interest payable on deposits and loans, audit charges, working expenses including repair works, lease, taxes and depreciation, 

Section 80g of the Income Tax Act, 1961 licenses benefactors to Societies Registered U/s 80g earnings of pay responsibility exemption on their present. This is among the inspiration accommodated the people to provide for a respectable cause. All NGO ought to attempt and get enlistment under section 80g. This is limited where the NGO can reveal their gratitude to the providers.

Location 80g registration of the Earnings Tax Act equips an Income Tax Payee to declare conclusively for presents made by them to specific association. This conclusion is liable for particular conditions.

The measure of discovering depends on:-.
a). To whom the gift has actually been made.
b). Measure of Donation. They are excuseded from 100 % to half of the measure of the Donation.

No. All Donations are not gotten conclusion of U/s 80g. Simply those presents qualify which is made to specific establishments, beneficent organizations enrolled or defined under U/S 80g.

 

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A multi state cooperative society is of different kinds- Credit, Housing, Farming, Transportation, Hospital, Sugar, Stores, Fishery, Handloom, Labor, Customer and Multi Function Co-operative Society. The fundamental formalities for forming this society is to arrange at least 50 members from 2 states each.

Role of Governing Body Members of Multi State:-.

As far the interim management committee list is concerned who are responsible for the management and handling of the cooperative society, the society needs to minimum 7 members and this list can go upto 21 members. After the 97th Constitutional Modification Act 2011 from February 2013, it is compulsory to keep 2 ladies and 1 extra member who belongs to Scheduled Caste or to Scheduled Tribe in the major governing body list. Till today, there are 900-950 Multi State Cooperative Societies from which optimum are credit. The governing body members participate in yearly general body meetings,

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Time Taken for registration: -.

Generally, the maximum period for a multi state cooperative society registration is 4 months. In case, the application receives an objection, because case, the application can be submitted again and in particular circumstances, the society registration can be done earlier likewise on the basis of earlier rejections or on political pressures.
Registration, the amendment proposal is also filed in the Ministry of Farming. We can submit modification if we desire to increase our location of operation i.e. number of states or enhance our authorized share capital or change our name or change our office address.

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