The net profits of a multi state cooperative societies referred in respect of a society earning profits shall be calculated by deducting from the gross profit for the year, all interest accrued and accruing in relation to amounts which are overdue, establishment charges, interest payable on loans and deposits, audit fees, working expenses including repairs, rent, taxes and depreciation, bonus payable to employees under the law relating to payment of bonus for the time being in force, and equalization fund for such bonus, provision for payment of multi state society and making approved donations under the Income-tax Act, 1961 (43 of 1961), rebate, provision for development fund, bad debt fund, price fluctuation fund, dividend e validation fund, share capital redemption fund, investment fluctuation fund, provision for retirement benefits to employees, and after providing for or writing off bad debts and losses not adjusted against any fund created out of profit. Provided further that in the case of such multi state cooperative society as do not have share capital, the surplus of income over expenditure shall not be treated as net profits and such surplus shall be dealt with in accordance with the bye-laws. The cooperative societies, with objects not confined to one state and serving the interests of members in more than one state for social and economic betterment of its members through self-help and mutual aid in accordance with the co-operative principles are considered Multi state Co-operative society. a scheme showing the details explaining how the working of the credit cooperative society will be economically sound and the registration of such multi state cooperative society will be beneficial for social and economic betterment of its members through self-help and mutual aid in accordance with the cooperative principles If the Central Registrar is satisfied that the proposed multi state cooperative society has complied with the requirements of the Act and the rules, he may register the society and its bye-laws.