Labour co operative society inocme taxability
This query is : Resolved
Rupesh Jain
(Querist)
04 August 2022
co-operative society registerer with state govt.
turnover 20 laks how can file return of income tax with audit or without audit , can declare income u/s 44AD and take deduction u/s 80P of the whole profit or not, if not why.
tax audit require or not, if yes under which section.
turnover 20 laks how can file return of income tax with audit or without audit , can declare income u/s 44AD and take deduction u/s 80P of the whole profit or not, if not why.
tax audit require or not, if yes under which section.
Dhirajlal Rambhia
(Expert)
04 August 2022
1 Co op societies are not eligible for presumptive assessment u/s. 44AD of the act.
2. Statutory Audit as per state co op act, would be required, but tax audit not necessary.
2. Statutory Audit as per state co op act, would be required, but tax audit not necessary.
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