(1) A co-operative society resident in India, for any previous year relevant to the assessment year beginning on or after the 1st day of April 2021, shall, at the option of such person, be computed at the rate of 22%, if the conditions contained in sub-section (2) are satisfied. (2) Consequence if prescribed conditions are not fulfilled (Proviso to section 115BAD(1)]: Where the person fails to satisfy the conditions contained in sub-section (2) in computing its income in any previous year, t
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