Amendment status not verified — confirm the current text below against the official source.
Amounts to be deducted by a society from its profits before arriving at its net profits.— In addition to the sums referred to in sub-section (1) of section 65, the following sums shall be deducted by a society from its profits before arriving at its profits for the purposes of sub- section (2) of section 65:- (i) Contributions, if any, to be made to any sinking fund or guarantee fund, constituted under the provisions of the Act, the rules or bye-laws of the society for ensuing due fulfillment of guarantee given by Government in respect of loans raised by the society. (ii) Provision considered necessary for depreciation in the value of any security bonds or shares held by the society as part of its investment. (iii) Any provision required to be made for the redemption and share capital contributed by Government or by a federal society.