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Interest Income

Tax queries 653 views 5 replies

Whether interest income derived by a co-operative housing society from its investment in a co-operative bank, TAXABLE?

Replies (5)

 

Interest income/ Dividend income

Entire amount of such income

Such income is received from investment in any other co-operative society.

Exempted u/s 80P

income by way of dividend and interest from investment in other co-oprative society  is fully deductible...


as far as my knowledge is concern there is a notification issued by IT department in this regards...... i have to check

 

 

Regards

Madhusudan Kabra

agree both

agree with all

agreeing to both...


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