banner_ad

cooperative bank

This query is : Resolved 
Profile Image

Profile Image

(Querist)
21 February 2008 urban cooperative bank has invested funds as fixed deposit in other coperative bank.
it has invested with a condition that at the time of maturity the interest will be added to principal amount & again will be reinvested.what will be the treatment of interest accrued for the financial year 2006-07?
will it not be claimed u/s 80p from the profit of the bank as income derived by the cooperative society from investment made in other cooperative society?
Profile Image

S.Srinivasaraghavan

Profile Image

S.Srinivasaraghavan (Expert)
21 February 2008 This question was raised by you yesterday and answered
Profile Image

R.V.RAO

Profile Image

R.V.RAO (Expert)
21 February 2008 from assessment year 2007-08, deduction under 80 P IS NOT AVAILABLE TO A COPERATIVE BANK.
ONLY PRIMARY AGR.CREDIT SOCIETY,PRIMARY COOP. AGR AND RURAL DEV. BANK WILL CONTINUE TO GET DEDUCTION UNDER 80 P.
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details