sec 81(b)
pavithra_2004 Rajesh (2 Points)
06 December 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160292 Points)
Replied 07 December 2018
Income of co-operative societies
81. Income-tax shall not be payable by a co-operative society—
(i) in respect of the profits and gains of business carried on by it, if it is—
(a) a society engaged in carrying on the business of banking or providing credit facilities to its members; or
(b) a society engaged in a cottage industry; ...........
..................
81. to 85C. Omitted by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968. Provisions of sections 81, 82, 83, 84, 85, 85A, 85B and 85C were incorporated from the same date in sections 80P, 80Q, ............ respectively.