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Housing society interest from nationalised bank
housing co operative society received interest from FD and saving account from nationalised bank i.e SBI, or BOB , is it taxable or exemption ? if exemption under which section and how many amount for deduction ?
Replies (1)
Interest income derived by assessee, co-operative society from its investments held with a co-operative bank, was entitled for claim of deduction under section 80P(2)(d) as for the purposes of section 80P(2)(d) of the Act, Cooperative Bank Ltd shall be treated as a co-operative society.
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