TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Co-operative societies allowed specific full deductions for listed member activities, limited exemptions, and exclusions for certain banks</h1> A co-operative society may deduct specified amounts from its gross total income where income arises from listed activities: full deduction for profits from banking/credit to members, cottage industry, marketing members' agricultural produce, supplying agricultural inputs, non-powered processing of members' produce, collective disposal of members' labour, fishing/allied activities (subject to voting-rights limits), and certain primary societies supplying milk/produce to federations or government entities; full deduction for interest/dividends from investments in other co-ops and income from letting godowns; limited exemption for other activities up to prescribed monetary caps; small amounts from interest or house property may be exempt in specified societies; co-operative banks (except primary agricultural credit societies and certain rural development banks) are excluded.
TaxTMI 
TaxTMI 
