Deduction for co operative societies: tax relief applies to profits from specified cooperative activities subject to qualifying conditions. Deduction for co-operative societies allows specified deductions from gross total income where income arises from defined co-operative activities (banking/credit to members, cottage industry, marketing of members' agricultural produce, supply of agricultural inputs, non powered processing, collective disposal of members' labour, fishing/allied activities), permitting whole profits attributable to such activities to be deducted subject to membership and bye law voting restrictions and other qualifying conditions; additional provisions address primary societies supplying produce, limited deductions for other activities, investment and warehouse income, exclusions for most co operative banks, and interaction with other deductions.