Deduction under 80P

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34 Points Posted on 29 January 2021
any income earn as a interest or devidend by investment made in the cooperative or sahakari bank by the cooperative society is liable to be exempted under section 80 P
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On 29 January 2021 at 15:01 Report
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Income earned as interest or dividends from investments made in cooperative or sahakari banks by a cooperative society is generally exempt under Section 80P. However, this deduction is contingent on filing the tax return on or before the due date. Late filings will result in the disallowance of the 80P deduction.

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Chartered Accountant
24588 Points Posted on 29 January 2021
Yes it is exempted under 80P
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On 29 January 2021 at 15:14
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17269 Points Posted on 29 January 2021
Exempted under 80P provided return is filed on or before due date. Belated return , no 80P deduction allowed.
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On 29 January 2021 at 23:25

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