Can i claim 80p on interest income
This query is : Resolved
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Ashim kr Ray
(Querist)
13 May 2022
Sir,
Can a cooperative society take deduction of 100% of profit under 80p.
If society income is generate from interest income, which they have given loan to various people.
Can a cooperative society take deduction of 100% of profit under 80p.
If society income is generate from interest income, which they have given loan to various people.
CA R SEETHARAMAN
(Expert)
13 May 2022
80P deduction available only on interst received from members. It's 100% available.
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RAMESH KUMAR VERMA
(Expert)
13 May 2022
100% deduction is available under Section 80P towards the Profit And Gains .
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