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Co-operative housing society can get std deduction

This query is : Resolved 
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(Querist)
30 December 2013 Please share your views whether Co-operative housing society not doing any business as such, can get Standard deduction of Rs. 50,000/- u/d 80P
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 December 2013 Deduction can be claimed in the absence of business as well. Eg:- for interest and dividend deduction u/s 80P(2)(d) is permitted.
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