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<h1>Amendment to Section 80P: Co-operative Bank Benefits Limited; Exclusions for Certain Agricultural Societies Effective from April 2007.</h1> Section 80P of the Income-tax Act was amended by the Finance Act, 2006, effective April 1, 2007. The amendment specifies that the benefits of this section will not apply to any co-operative bank, except for primary agricultural credit societies or primary co-operative agricultural and rural development banks. The terms 'co-operative bank' and 'primary agricultural credit society' are defined according to the Banking Regulation Act, 1949, while a 'primary co-operative agricultural and rural development bank' is defined as a society focused on providing long-term credit for agricultural and rural development within a taluk.