Deduction u/s 80P - the entities registered under the Karnataka ...

Karnataka Souharda Sahakari Act entities recognized as "co-operative societies" under Income Tax Act, eligible for section 80P deductions.

January 22, 2020

Case Laws Income Tax HC

Deduction u/s 80P - the entities registered under the Karnataka Souharda Sahakari Act, 1997 fit into the definition of “co-operative society” as enacted in sec.2(19) of the Income Tax Act, 1961 and therefore subject to all just exceptions, petitioners are entitled to stake their claim for the benefit of sec.80P

View Source

← Previous Next →

Deduction u/s 80P - the entities registered under the Karnataka ...

Karnataka Souharda Sahakari Act entities recognized as "co-operative societies" under Income Tax Act, eligible for section 80P deductions.

January 22, 2020

Case Laws Income Tax HC

You may also like:

Revision u/s 263 - AO treated assessee taxpayer as a “cooperative society” registered u/sec.2(19) - The Revenue argues that the assessee is not a "cooperative society"...

Deduction u/s 80P(2) - whether Souharda Sahakari registered under the Karnataka Souharda Sahakari Act, 1997 are also co-operative societies within the meaning of...

Investment of surplus fund by a coop society, no deduction u/s 80P – Supreme Court

Share income received from the Society - Society has claimed deduction u/s 80IAB, hence not suffered any tax - Since the income of the society was taxed separately as...

Notification exempting specified income of 'Kalyan Karnataka Region Development Board' (PAN AAAGH0732F), a Board constituted by Karnataka Government, from income tax u/s...

Co-operative Housing Society declared income from maintenance charges under 'Income from other sources' with deficit of Rs. 13,86,671/-. Rental and interest income also...

Deduction u/s 80P(2)(d) - Interest income earned by the Society comes with the category of income from other sources and Section 80P(2)(d) deals with the eligible...

Karnataka State Natural Disaster Monitoring Centre (PAN: AAATD2434P), a body constituted by State Government of Karnataka, is exempted from income tax u/s 10(46) of...

Unexplained investment in land purchase - society's purchase in its name or trustees' names - CIT(A) considered money not paid by society from income but sourced from...

Deductibility of interest income from investments u/s 80P(2)(a)(i) of the Income Tax Act for a primary agricultural credit cooperative society. The key points are: The...

Deduction u/s 80P - deduction of income earned as interest/dividend from co-operative bank is allowable. Section 80P(2)(d) reflects that if income by way of interest or...

Exemption u/s 11 - Use of accumulated income for different purpose - Treating the amount given to PSWHMMS as the income of the appellant-society in terms of section...

Accrual of income - method of accounting to recognize the revenue - Addition made for excess interest spread ('EIS') income earned on assignment of receivables - AO has...

Eligibility for deduction u/s 80P - proof of charitable activities - a Society has to be registered under the Karnataka Society Act 1977 as Cooperative society for...

Deduction u/s 80P - Failure to file Tax Audit Report - assessee did not submit the audit report as per section 63 of the Karnataka State Co-operative Society Act, 1959 -...

Quick Updates: