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This query is : Resolved
31 May 2012
anyone can help me ...........?????????
what is the difference between section 80P(2)(C)AND 80P(2)(F)
what is the difference between section 80P(2)(C)AND 80P(2)(F)
CA PARAS BAFNA
(Expert)
31 May 2012
80P(2)(c) is Applicable to the Societies engaged in the activities other than or in addition to the activities specified in clause (a) and clause (b)
.
Such other Activities have directly not mentioned in this clause.
.
We have to infer the same from clause(f).
.
In clause (f) of Section 80P(2), certain types of Societies have been specifically excluded.
.
To such Excluded Societies clause (c) may apply but clause (f) will not apply.
These are like Housing Society, Urban Consumers Society, Transporters' Society etc.
.
Such Specified Societies are covered under clause (c).
.
I may say that clause (f) will apply to only residual or remaining type of societies having Gross Total Income not exceeding Rs 20000/.
.
To such societies, which are having income
<=20000/- deduction is allowable to the extent of the amount of -
Interest on Securities or/and
Income from House Property.
The said deduction will not be allowed to
such clause (f) societies, which are having
GTI exceeding Rs. 20000/-
.
In clause (c) deduction may be allowed of Rs. 100000/- or 50000/- from the profits
of the business activities of the society.
.
.
Such other Activities have directly not mentioned in this clause.
.
We have to infer the same from clause(f).
.
In clause (f) of Section 80P(2), certain types of Societies have been specifically excluded.
.
To such Excluded Societies clause (c) may apply but clause (f) will not apply.
These are like Housing Society, Urban Consumers Society, Transporters' Society etc.
.
Such Specified Societies are covered under clause (c).
.
I may say that clause (f) will apply to only residual or remaining type of societies having Gross Total Income not exceeding Rs 20000/.
.
To such societies, which are having income
<=20000/- deduction is allowable to the extent of the amount of -
Interest on Securities or/and
Income from House Property.
The said deduction will not be allowed to
such clause (f) societies, which are having
GTI exceeding Rs. 20000/-
.
In clause (c) deduction may be allowed of Rs. 100000/- or 50000/- from the profits
of the business activities of the society.
.
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