Are certain Co-operative Banks like Saraswat Bank etc, a Co-operative society

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..... The ITO has taken a view that Saraswat Co-op Bank or Shamrao Vithal Co-op Bank ( or Maharashtra state Co-operative Bank ) are Co-operative banks but they ARE NOT CO-OPERATIVE SOCIETIES . Hence if any .....

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..... co-operative housing society (CHS) earns interest from these co-op banks, the said CHS is not entitled to 100% deduction of that interest u/s 80P(2)(d) because this section speaks of earning interest .....

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..... from Co-operative societies and NOT co-operative banks. My stand is captured u/s 2(10) of the Maharashtra co-operative Societies Act 1960 ( which defines Co-op Bank ) and these banks are societies un .....

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..... der the Multi State Co-op Soc Act 2002. Hence they are co-op bank and also Co-op Societies. Hence CHS should get benefit of full 100% deduction u/s 80P(2)(d).. - Are certain Co-operative Banks like .....

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..... Saraswat Bank etc, a Co-operative society - Query Started By: - RAJESH SANGHVI Dated:- 27-4-2015 Income Tax - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opi .....

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..... nion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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