Co operative society income exemptions clarified for specified agricultural, credit and marketing activities, with conditional limits and exclusions. Section 81 previously exempted certain categories of income of co-operative societies from income-tax by listing specified exempt business ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Co operative society income exemptions clarified for specified agricultural, credit and marketing activities, with conditional limits and exclusions.
Section 81 previously exempted certain categories of income of co-operative societies from income-tax by listing specified exempt business activities-banking/credit to members, cottage industry, marketing of members' agricultural produce, supply of agricultural inputs to members, non power processing of members' produce, and primary milk supply to federal co operatives-and by exempting specified investment income and income from letting of storage facilities, subject to provisos limiting exemptions where societies undertook other activities and excluding certain society types and insurance business from those exemptions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.