Deduction u/s 80p

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2013 A co-op hsg soc have recvd intimation receiveing for disallowing deduction u/s 80P.
the co-op hsg soc receives bank interest from another co-op bank only. is it not deductible u/s 80P

Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2013 please suggest the remedy, i ahve tried rectification, it has been rejected.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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19 July 2013 Interest on investment with any other co operative society only is allowed u/s 80P(2)(d). Perhaps ,interest is disallowed since it is received from CO-OP BANK. Remedy is try in appeal before the CIT (Appeals).

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Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2013 Sir,
doesn't co-op soc, so-op consumer soc., co-op bank being all falling under the category being co-op society.As there is no clear mention as to being which co-op soc in the sentence. Kindly correct if wrong.
Thank you

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