Part IXB - Co-operative Societies • Article

Article 243ZP Simplified: Returns

Article 243ZP requires every cooperative society to file annual returns with the designated state authority within six months of the close of the financial year. The returns must include an annual activity report, audited statements, surplus disposal plans, bye-law amendments, and declarations of general body and election dates.

Official Text

Every co-operative society shall file returns, within six months of the close of every financial year, to the authority designated by the State Government including the following matters, namely:— (a) annual report of its activities; (b) its audited statement of accounts; (c) plan for surplus disposal as approved by the general body of the co-operative society; (d) list of amendments to the bye-laws of the co-operative society, if any; (e) declaration regarding date of holding of its general body meeting and conduct of elections when due; and (f) any other information required by the Registrar in pursuance of any of the provisions of the State Act.

Simple Meaning

Explain Like Ten

Every year, the cooperative has to send a report packet (called a return) to the government registrar. This packet has their financial report, activity list, and when they held their meetings.

Student Mode

Example

An urban cooperative bank compiles its annual report, audited accounts, and dividend distribution plans, and submits this complete packet as an official return to the Registrar of Co-operative Societies before the end of September.

Key Takeaway

Article 243ZP ensures regulatory oversight and administrative compliance through mandatory annual returns.

FAQs

What details must be included in the annual returns of a cooperative?

The returns must include: an annual activity report, audited statement of accounts, plan for surplus disposal approved by the general body, list of bye-law amendments, and declaration of meeting/election dates.

What is the deadline for filing cooperative returns?

The returns must be filed within six months of the close of every financial year.

Quiz

Cooperative societies must file returns to which designated authority?

Answer: The authority designated by the State Government (typically the Registrar)

Which of the following must be included in a cooperative society's annual returns?

Answer: Plan for surplus disposal as approved by the general body