Deduction u/s 80p(2)(a)i
This query is : Resolved
godachappa.i angadi
(Querist)
16 December 2013
Whether interest income earned on nationalized bank in addition to the normal business profit of a co-op credit society is exempt or not.
1)Interest income from Dena Bank on SB Account is exempt or not.Please reply early
1)Interest income from Dena Bank on SB Account is exempt or not.Please reply early
CA PARAS BAFNA
(Expert)
16 December 2013
Fixed Deposit Interest from a nationalised Bank is Taxable.
.
The main business of a co-operative credit soiecty is to provide credit facilities to its members. Opening a saving account facilitates the activity of the society so in my view interest on SB A/c with Dena Bank is exempt.
.
Please wait for the experts opinion.
.
.
The main business of a co-operative credit soiecty is to provide credit facilities to its members. Opening a saving account facilitates the activity of the society so in my view interest on SB A/c with Dena Bank is exempt.
.
Please wait for the experts opinion.
.
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