Income Tax on inv in nationelized bank by co-op. cred. soc.

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LAXMAN KAMBLE

LAXMAN KAMBLE (Querist)
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13 October 2009 whether income tax is applicable on investments of co-operative credit societies in nationalized banks

Juzer Sadikot

Juzer Sadikot (Expert)
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13 October 2009 Dear Laxman,

Dont get you correctly, "Investment in Co-operative credit societies in NATIONALISED BANK"

No tax on making Investment, if any dividend is declared by the Credit Co-soc, then it shall be subjected to Income Tax.

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LAXMAN KAMBLE

LAXMAN KAMBLE (Querist)
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27 January 2010 whether income tax is applicable on investments of co-operative credit societies in nationalized banks