80p not allowed

Section 80P in The Income- Tax Act, 1995

80P. 2 Deduction in respect of income of co- operative societies

(1) Where, in the case of an assessee being a co- operative society, the gross total income includes any income referred to in sub- section (2), there shall be deducted, in accordance with and subject to the provisions of this section, the sums specified in sub- section (2), in computing the total income of the assessee.

(2) The sums referred to in sub- section (1) shall be the following, namely:-(a) in the case of a co- operative society engaged in-

(i) 3 carrying on the business of banking or providing credit facilities to its members, or

(ii) a cottage industry, or

(iii) the marketing of the agricultural produce of its members, or (iv) the purchase of agricultural implements, seeds, livestock or other articles intended for agriculture for the purpose of supplying them to its members, or

(v) the processing, without the aid of power, of the agricultural produce of its members 4 or]

.............

Where as section 44AD/AE/ADA/ AF/......... are appicable in case of Individual, HUF or firms and not co-operative societies.........