Sec 269SS and 269T applicable for primary agricultural co-operative society?
STERIN MARIYA (Student CA Final ) (39 Points)
15 November 2017Sec 269SS and 269T applicable for primary agricultural co-operative society?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160484 Points)
Replied 15 November 2017
Exemptions from section 269SS/269T:
The Following persons are exempted from the purview of section 269SS:
a) Government ;
(b) any banking company, post office savings bank or co-operative bank ;
(c) any corporation established by a Central, State or Provincial Act ;
(d) any Government company as defined in section 617 of the Companies Act, 1956
(e) other notified insititutions
(f) where the depositor and the acceptor are both having agricultural income and neither of them have any taxable income. (269SS)
CO-OPERATIVE SOCIETY NOT EXEMPTED...........
Amitav
(Chartered Accountant)
(5993 Points)
Replied 16 November 2017
Section 269SS and 269T is applicable to co-operative society.
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