Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Deduction for co-operative society income permits full tax deduction for profits from specified member oriented activities and certain investment income. Deduction for income of co-operative societies permits full deduction of profits from specified member oriented activities (including banking/credit, ... Summary
Deduction for co-operative society income permits full tax deduction for profits from specified member oriented activities and certain investment income.
Deduction for income of co-operative societies permits full deduction of profits from specified member oriented activities (including banking/credit, cottage industry, marketing of member agricultural produce, supply of agricultural inputs, non powered processing, collective disposal of labour, and fishing/allied activities), full deduction for primary societies supplying member produced milk, oilseeds, fruits or vegetables to federals or government purchasers, capped deductions for other activities for consumers' and other societies, exemption for interest/dividends from other co operative societies and for income from letting godowns, and coordination with other statutory deductions and membership voting restrictions.
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