Deduction for primary co-operative societies permits tax relief on profits from providing banking or credit to members. Deduction allowed for profits of a primary co-operative society derived from providing banking or credit facilities to its members. A qualifying primary ... Summary
Deduction for primary co-operative societies permits tax relief on profits from providing banking or credit to members.
Deduction allowed for profits of a primary co-operative society derived from providing banking or credit facilities to its members. A qualifying primary co-operative society means either a primary agricultural credit society or a primary co-operative agricultural and rural development bank whose operations are confined to a taluk and which is mainly engaged in providing long-term credit for agricultural and rural development.
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