CREDITCOOPSOCIETY80P
This query is : Resolved
NAGESH DEVIDAS HEGDE
(Querist)
23 September 2008
Dear Sir,
A credit coop Society is engaged in the business of taking deposits and advancing loans to its members.My query is whether te Society is eligible for deduction u/s 80P.
Thanking you,
Yours truly,
N.D.Hegde
A credit coop Society is engaged in the business of taking deposits and advancing loans to its members.My query is whether te Society is eligible for deduction u/s 80P.
Thanking you,
Yours truly,
N.D.Hegde
23 September 2008
80P(2)(a)(i) allows such exemption if the society is engaged in provision of credit facility to its members.
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