Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2023 Year 2023 This

Exemption from deduction of Tax u/s 194N and 194A to ...

Case Laws     Income Tax

December 21, 2023

Exemption from deduction of Tax u/s 194N and 194A to Co-operative Societies - The 1st respondent shall also consider with regard to the issuance of appropriate circulars for entertaining the cashless transactions by the Co-operative Societies by amending the IT Act. Once if the petitioners/Co-operative Societies have followed the above suggestions, there is no need for them to handle any cash transaction any more. - HC

View Source

 


 

You may also like:

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

  2. Benefit of exemption u/s 194A(3)(iii)(a) on interest by the CO-OPERATIVE BANK to the Primary Agricultural Credit Societies - in the case of deposits made by the...

  3. TDS u/s 194N - deduction of tax on cash withdrawal - Agricultural Co-operative Credit Society - The challenge to the impugned Circulars cannot be entertained as the...

  4. Allowability of deduction u/s 80P(2)(d) for interest income from deposits/investments in a cooperative bank by a cooperative society. The assessee, a cooperative society...

  5. TDS liability - Since the assessee is an primary agricultural credit society, the exemption provided for non deduction of tax to primary agricultural credit society u/s...

  6. TDS u/s 194A - interest paid to various members of the Society - No doubt, by the Finance Act, 2015 which entered into force with effect from 01.06.2015, clause (v) of...

  7. Deduction u/s 80P(2)(a) is allowed for a cooperative society earning interest and dividend income from deposits with a Delhi State Cooperative Bank registered under the...

  8. 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...

  9. 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...

  10. Denial of deduction claimed u/s 80P (2)(d) - AO disallowed the benefit by invoking the provision of section 154 for rectification of mistake change of opinion - interest...

  11. Deduction u/s 80P(2)(a)(i) was denied by the Assessing Officer on grounds that the assessee society cannot be termed a mutual concern and principles of mutuality cannot...

  12. Deduction claimed u/s. 80P(2)(a)(i) - Status showing as AOP and not mentioned as cooperative society - The Tribunal referred to the definition of "person" under section...

  13. Constitutional validity and legality of Section 194N - Deduction of tax at source at the rate of 2% on cash withdrawals from, inter alia, a banking company exceeding...

  14. 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...

  15. 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...

 

Quick Updates:Latest Updates