ICICI

taxable or no


Ritu (Articled assistant)     22 July 2019

Ritu
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My father is a retired Railway employee and has received central railway employee co-operative society fund. Is this taxable as even tds has not been deducted other on his pension tds is deducted.
please help

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rama krishnan   22 July 2019

rama krishnan

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what's the nature of receipt received from co-operative fund

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Ritu (Articled assistant)     23 July 2019

Ritu
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even I am not very sure about it whether its a revenue receipt or capital..he just used to contribute some about at the time of employment and after 5-6 years of retirement he received a lump sum amount.

chetna (https://www.tallycloudhub.com/)     23 July 2019

chetna
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a certain specified income of a co-operative society engaged in specific activities is considered as a deduction if such income is included in the gross total income of the society.

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Ritu (Articled assistant)     23 July 2019

Ritu
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ohhhkk...so can u tell me as to where will I get this details of specific activities as the amount received is really relevant...if I can claim the deduction it will make a whole lot of difference.


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