Deduction claimed u/sec. 80P(2)(a)(i) - interest income from the ...

Cooperative societies can still deduct interest income from investments in cooperative banks u/s 80P(2)(d) despite new limits.

April 4, 2024

Case Laws Income Tax AT

Deduction claimed u/sec. 80P(2)(a)(i) - interest income from the investments made in co-operative/scheduled bank(s) - The Tribunal observed that despite the insertion of subsection (4) to section 80P, which limited the applicability of the provision to certain cooperative banks, the interest income earned by a cooperative society from investments held with a cooperative bank would still be eligible for deduction under section 80P(2)(d).

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Deduction claimed u/sec. 80P(2)(a)(i) - interest income from the ...

Cooperative societies can still deduct interest income from investments in cooperative banks u/s 80P(2)(d) despite new limits.

April 4, 2024

Case Laws Income Tax AT

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