In which section For co-operative society Income is exempted in Income Tax act:
1. In which section Interest is earned by Co-operative socity deposited made in another Co-operative society
2. What are the other Exemption for co-operative society
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Exemption for co-operative society
Replies (1)
Hi , co-operative societies are being given income based exemption under the provision of section 80P and also being deduction for salary and interest paid to its member under the provision of section 40 and deduction is more or less similar to the deduction being given to partners in case of partnership firm .
I don't think so of any other special exemption for co-operative society .
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