Dividends from co operative societies added to Section 80L, creating a specific exempt income category under income tax law. The amendment inserts a new clause in sub section (1) of Section 80L, adding dividends from any co operative society, and adjusts clause punctuation by ... Summary
Dividends from co operative societies added to Section 80L, creating a specific exempt income category under income tax law.
The amendment inserts a new clause in sub section (1) of Section 80L, adding dividends from any co operative society, and adjusts clause punctuation by omitting the terminal "or" in clause (vii) and substituting a terminal "or" in clause (viii), effective from 1 April 1973.
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