One of my client is a Cooperative Society registered under State Cooperative Socities Act.The society is for the purpose of purchase and sale of fertilizers to local farmers and small retailers.So whether it can claim deduction of Rs.50000 under section 80P of the Income Tax Act.
The society is eligible for tax audit in this year as crossed 1crore turnover.So I also want to know that which forms are applicable to tax audit (Form 3CB and 3CD or 3CA and 3CD).The society is only one year old so no auditor has been appointed by the Registrar yet.Please reply
CAclubindia
