Income of Co-operative society
This query is : Resolved
CA. KOSHY T.Y
(Querist)
20 January 2020
Assessee is a co-operative society. Main Income is interest from loan to members. Expenses includes interest paid to members on their deposits. It has also deposits with banks from which interest is earned. Net income as per the audited accounted(Audit under co op societies Act) is Rs. 66000.00 only. Under which head of income this net income to be shown while filing the return of income.?
Amol S Joglekar
(Expert)
21 January 2020
interest om deposits with other banks is income from other sources
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