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Section 80P

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(Querist)
18 June 2020 Our client is a cooperative society engaged in manufacturing tea from bought leaf and then selling the finished product.
1.Is it eligible to take deduction under section 80P?
2.If the cooperative society incurr loss, then how to apply section 80P?


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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
19 June 2020 1. Eligible to claim 80(P) (c).

2. Cannot claim.
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P.B.1234

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P.B.1234 (Querist)
19 June 2020 1. You mean 80P(2)(c)?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
19 June 2020 Yes. Stands corrected.
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P.B.1234

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P.B.1234 (Querist)
19 June 2020 Thank you sir. .
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