Co-operative society with a rural development bank
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 March 2013
My client is a co-operative society with banking sector as a rural development bank. Whose most of the client is the shareholder of the society. In this situation his income from interest received in various operations would be taxable or not? And will income tax return filing be mandatory?
If so, in which i.t.r. from is applicable?
If so, in which i.t.r. from is applicable?
Radhakrishnan K.V.
(Expert)
07 May 2013
Interest not taxable. Sec.194A(3)(iii).
Return mandatory if there is income of a single paise.
ITR-5
Return mandatory if there is income of a single paise.
ITR-5
Dhirajlal Rambhia
(Expert)
16 August 2023
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