Co-operative society is eligible for sec. 80P relief on interest from surplus parked in FDs

INCOME TAX : As far as deduction under section 80P(2)(d) is concerned, said provision does not make any distinction in regard to source of investment by co-operative society and, thus, in such a case, revenue is not required to look to nature of investment whether it is from surplus funds or otherwiseINCOME TAX : As far as deduction under section 80P(2)(d) is concerned, said provision does not make any distinction in regard to source of investment by co-operative society and, thus, in such a case, revenue is not required to look to nature of investment whether it is from surplus funds or otherwisewww.taxmann.com Latest Case LawsRead More

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