Inclusion of co-operative societies expands deduction eligibility under amended income-tax provision for companies and co-ops. The amendment inserts "or a co-operative society" after "Where any company" in clause (a) of sub section (1) of section 35C and substitutes every ... Summary
Inclusion of co-operative societies expands deduction eligibility under amended income-tax provision for companies and co-ops.
The amendment inserts "or a co-operative society" after "Where any company" in clause (a) of sub section (1) of section 35C and substitutes every occurrence of "the company" with "the company or co-operative society", thereby extending the provision's terminology and operative scope to include co-operative societies alongside companies.
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