i have a question if anyone could throw some light on it,I would appreciate it very much.
1. is a co operative society in India taxable under income tax ?
2. Does a co operative society need to file income tax return?
3. can a co operative society obtain a tax exemption certificate from the state where it is registered?
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Co operative society
Replies (4)
1. Yes
2. Yes
3. No such provisions exist
2. Yes
3. No such provisions exist
co op society tax exemption u/s 80p
@ ajeet Singh
Under 80P - only interest income on deposits from Co-operative banks is exempt.
80P is for interest between two Co- operatives.
Under 80P - only interest income on deposits from Co-operative banks is exempt.
80P is for interest between two Co- operatives.
Co op socities hv to file income tax return. It is mandatory.
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