Deduction u/s 80P(2)(d) - Interest income earned by the Society ...

Court Confirms Section 80P(2)(d) Deductions Only Apply to Interest from Co-operative Banks, Not Treasury Income.

December 25, 2021

Case Laws Income Tax HC

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 deduction in this behalf. It has been held in the connected cases that the assessee is entitled to deduction of interest income earned from Co-operative Banks/Societies/ Federation registered under the Co-operative Societies Act and the income earned from Treasury is not included in Section 80P(2)(d) and is not entitled for deduction from computation of income. - HC

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Deduction u/s 80P(2)(d) - Interest income earned by the Society ...

Court Confirms Section 80P(2)(d) Deductions Only Apply to Interest from Co-operative Banks, Not Treasury Income.

December 25, 2021

Case Laws Income Tax HC

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