Tuesday, August 25, 2020

Credit co-operative society earning income from investments in banks not eligible to claim deduction u/s 80P

INCOME TAX : Interest which accrues on funds not required immediately by assessee-co-operative society for its business purpose and which have been only invested in specified securities as 'investment' cannot be said to be attributable either to activity mentioned in section 80P(2)(a)(i) or in section 80P(2)(a)(iii)

from www.taxmann.com Latest Case Laws https://ift.tt/31vNzmN
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